Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $10.00 to $14.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 19.76% from the company's current price.
Several other analysts have also weighed in on the company. The Goldman Sachs Group increased their price target on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Piper Sandler increased their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Wednesday. TD Cowen increased their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley increased their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Craig Hallum initiated coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.38.
View Our Latest Report on ADPT
Adaptive Biotechnologies Stock Up 5.8%
NASDAQ ADPT traded up $0.64 during trading hours on Wednesday, reaching $11.69. The company's stock had a trading volume of 4,648,594 shares, compared to its average volume of 2,021,364. The firm's 50-day moving average price is $10.75 and its 200-day moving average price is $9.00. Adaptive Biotechnologies has a 1 year low of $3.98 and a 1 year high of $12.83. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -12.18 and a beta of 1.92.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.07. The firm had revenue of $49.94 million during the quarter, compared to the consensus estimate of $49.40 million. Adaptive Biotechnologies had a negative return on equity of 62.79% and a negative net margin of 74.84%. The company's quarterly revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.31) EPS. Equities research analysts anticipate that Adaptive Biotechnologies will post -0.92 EPS for the current fiscal year.
Institutional Investors Weigh In On Adaptive Biotechnologies
A number of institutional investors and hedge funds have recently modified their holdings of ADPT. Ameriprise Financial Inc. increased its position in shares of Adaptive Biotechnologies by 801.6% in the first quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company's stock valued at $49,355,000 after buying an additional 5,905,756 shares in the last quarter. Braidwell LP acquired a new position in Adaptive Biotechnologies during the first quarter worth $35,692,000. Voya Investment Management LLC boosted its stake in Adaptive Biotechnologies by 6,121.7% during the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock worth $14,560,000 after buying an additional 2,389,674 shares during the last quarter. Iron Triangle Partners LP acquired a new position in Adaptive Biotechnologies during the first quarter worth $15,856,000. Finally, Soleus Capital Management L.P. lifted its stake in shares of Adaptive Biotechnologies by 168.1% in the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock valued at $17,884,000 after purchasing an additional 1,870,393 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.
About Adaptive Biotechnologies
(
Get Free Report)
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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