Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 12-Month Low - Here's What Happened

Key Points

• Adaptive Biotechnologies shares hit a new 52-week low, trading as low as $21.46 amid heavier volume before closing near $21.75.
• Analyst sentiment is mixed but still generally constructive: the stock carries a “Moderate Buy” consensus with an average target price of $20.83, though some firms have cut targets or maintained sell/equal-weight ratings.
• The company’s latest earnings beat expectations, with revenue of $70.87 million and EPS of -$0.13, while insiders have been selling shares and institutional investors continue to hold the vast majority of the stock.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.46 and last traded at $21.7530, with a volume of 1536019 shares traded. The stock had previously closed at $22.90.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ADPT shares. Guggenheim raised their price target on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, June 29th. JPMorgan Chase & Co. dropped their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. BTIG Research reissued a "buy" rating and issued a $22.00 price objective on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Finally, Morgan Stanley boosted their target price on shares of Adaptive Biotechnologies from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of "Moderate Buy" and a consensus target price of $20.83.

Adaptive Biotechnologies Price Performance

The business has a 50-day simple moving average of $17.26 and a two-hundred day simple moving average of $16.13. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -65.93 and a beta of 2.07.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $70.87 million during the quarter, compared to analysts' expectations of $61.03 million. During the same period last year, the firm posted ($0.20) earnings per share. The business's revenue was up 35.1% on a year-over-year basis. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, insider Sharon Benzeno sold 154,768 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $21.14, for a total value of $3,271,795.52. Following the transaction, the insider directly owned 221,278 shares in the company, valued at $4,677,816.92. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 5,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider directly owned 411,775 shares in the company, valued at $7,823,725. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 920,545 shares of company stock worth $18,588,281. Company insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADPT. Ameriprise Financial Inc. boosted its holdings in shares of Adaptive Biotechnologies by 84.3% during the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock worth $89,337,000 after acquiring an additional 2,731,648 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Adaptive Biotechnologies by 303.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company's stock worth $71,252,000 after purchasing an additional 3,299,635 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Adaptive Biotechnologies during the fourth quarter worth approximately $65,942,000. Geode Capital Management LLC lifted its holdings in Adaptive Biotechnologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company's stock worth $57,041,000 after purchasing an additional 110,825 shares during the last quarter. Finally, State Street Corp boosted its stake in Adaptive Biotechnologies by 3.3% in the 4th quarter. State Street Corp now owns 3,181,644 shares of the company's stock valued at $51,670,000 after purchasing an additional 102,362 shares during the period. Institutional investors and hedge funds own 99.17% of the company's stock.

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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