Adaptive Biotechnologies (NASDAQ:ADPT) Coverage Initiated by Analysts at Craig Hallum

Craig Hallum assumed coverage on shares of Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $15.00 price target on the stock. Craig Hallum's price target indicates a potential upside of 47.93% from the stock's current price.

ADPT has been the subject of a number of other reports. Morgan Stanley upped their target price on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and a consensus price target of $10.57.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $10.14 on Wednesday. The firm's fifty day moving average price is $8.88 and its two-hundred day moving average price is $7.87. The company has a market cap of $1.54 billion, a P/E ratio of -10.56 and a beta of 1.80. Adaptive Biotechnologies has a one year low of $2.99 and a one year high of $10.87.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.08. The company had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 62.79% and a negative net margin of 74.84%. The firm's quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.33) earnings per share. As a group, equities research analysts expect that Adaptive Biotechnologies will post -0.92 earnings per share for the current year.

Insider Activity

In related news, insider Harlan S. Robins sold 68,412 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total transaction of $502,828.20. Following the transaction, the insider now directly owns 1,279,524 shares of the company's stock, valued at $9,404,501.40. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 72,039 shares of company stock valued at $535,259 in the last ninety days. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. lifted its stake in shares of Adaptive Biotechnologies by 8.2% in the first quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company's stock valued at $160,000 after buying an additional 1,631 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Adaptive Biotechnologies by 2.7% during the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock valued at $486,000 after buying an additional 2,163 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Adaptive Biotechnologies by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company's stock worth $395,000 after buying an additional 2,625 shares in the last quarter. D.A. Davidson & CO. raised its position in Adaptive Biotechnologies by 3.8% in the 1st quarter. D.A. Davidson & CO. now owns 91,850 shares of the company's stock valued at $682,000 after buying an additional 3,400 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Adaptive Biotechnologies by 36.5% during the 1st quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock valued at $100,000 after acquiring an additional 3,583 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.

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