Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $12.07 and last traded at $11.98, with a volume of 5406617 shares traded. The stock had previously closed at $10.65.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Piper Sandler reissued an "overweight" rating and set a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. Craig Hallum started coverage on Adaptive Biotechnologies in a report on Wednesday, June 18th. They set a "buy" rating and a $15.00 price objective on the stock. Morgan Stanley increased 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. Finally, The Goldman Sachs Group boosted their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $10.57.
View Our Latest Stock Report on ADPT
Adaptive Biotechnologies Trading Down 3.0%
The firm has a market capitalization of $1.79 billion, a P/E ratio of -12.28 and a beta of 1.80. The firm has a 50 day moving average price of $9.42 and a 200-day moving average price of $8.12.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative return on equity of 62.79% and a negative net margin of 74.84%. The company had revenue of $52.44 million during the quarter, compared to the consensus estimate of $42.13 million. During the same period last year, the company earned ($0.33) earnings per share. Adaptive Biotechnologies's revenue was up 25.2% on a year-over-year basis. Research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.
Insider Activity at Adaptive Biotechnologies
In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total value of $502,828.20. Following the sale, the insider now owns 1,279,524 shares in the company, valued at $9,404,501.40. This trade represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Cibc World Markets Corp bought a new stake in Adaptive Biotechnologies during the 4th quarter valued at about $65,000. Bridgefront Capital LLC purchased a new position in shares of Adaptive Biotechnologies during the fourth quarter worth approximately $80,000. Personal CFO Solutions LLC bought a new stake in shares of Adaptive Biotechnologies during the first quarter valued at approximately $84,000. Blair William & Co. IL purchased a new stake in shares of Adaptive Biotechnologies in the first quarter valued at approximately $84,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Adaptive Biotechnologies in the first quarter valued at approximately $87,000. 99.17% of the stock is currently owned by institutional investors.
Adaptive Biotechnologies Company Profile
(
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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