Adaptive Biotechnologies (NASDAQ:ADPT) Earns "Buy" Rating from BTIG Research

Key Points

• BTIG Research reiterated a Buy rating on Adaptive Biotechnologies and kept a $22 price target, implying about 30.8% upside from the prior close.
• Recent analyst coverage remains broadly positive, with six Buy ratings versus one Hold and one Sell; the consensus view is Moderate Buy with a $19.57 average price target.
• Adaptive Biotechnologies reported quarterly earnings that beat expectations, posting a smaller-than-expected loss and 35.1% year-over-year revenue growth to $70.87 million.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $22.00 price target on the stock. BTIG Research's target price indicates a potential upside of 30.77% from the stock's previous close.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Guggenheim reissued a "buy" rating and issued a $21.00 target price on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. TD Cowen upped their target price on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Morgan Stanley lowered their target price on Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. Finally, Wall Street Zen lowered Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell 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 $19.57.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock traded down $0.40 during trading hours on Wednesday, hitting $16.82. The stock had a trading volume of 5,452,779 shares, compared to its average volume of 2,067,966. The firm has a market capitalization of $2.69 billion, a PE ratio of -50.98 and a beta of 2.16. Adaptive Biotechnologies has a twelve month low of $9.96 and a twelve month high of $20.76. The stock's 50 day moving average is $14.67 and its 200 day moving average is $15.61.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The business had revenue of $70.87 million during the quarter, compared to the consensus estimate of $61.03 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The company's revenue was up 35.1% compared to the same quarter last year. As a group, equities analysts predict that Adaptive Biotechnologies will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 19,037 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $14.23, for a total transaction of $270,896.51. Following the sale, the chief operating officer directly owned 377,802 shares in the company, valued at $5,376,122.46. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 39,741 shares of Adaptive Biotechnologies stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $17.49, for a total value of $695,070.09. Following the sale, the insider owned 250,934 shares in the company, valued at $4,388,835.66. This represents a 13.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 483,534 shares of company stock valued at $7,097,885. Corporate insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its position in shares of Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock worth $38,000 after acquiring an additional 1,565 shares in the last quarter. KBC Group NV acquired a new position in Adaptive Biotechnologies during the 1st quarter valued at approximately $45,000. Assetmark Inc. boosted its position in Adaptive Biotechnologies by 867.9% during the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company's stock valued at $49,000 after purchasing an additional 2,708 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Adaptive Biotechnologies during the 4th quarter valued at approximately $51,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company's flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.

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