Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 52-Week High - Still a Buy?

Key Points

• Adaptive Biotechnologies (NASDAQ:ADPT) hit a new 52-week high, trading as high as $22.99 after closing at $21.43 the prior day.
• Recent analyst action remains mostly constructive: five analysts rate the stock a Buy, with an average Moderate Buy rating and a consensus price target of $20.83.
• The company’s latest quarterly results beat expectations, with revenue up 35.1% year over year to $70.87 million; however, insiders have been selling shares in recent months.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $22.99 and last traded at $22.90, with a volume of 3979442 shares. The stock had previously closed at $21.43.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Adaptive Biotechnologies from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their target price 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. BTIG Research reissued a "buy" rating and set a $22.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, June 17th. Guggenheim boosted their price target on Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, TD Cowen restated a "buy" rating on shares of Adaptive Biotechnologies in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.83.

Adaptive Biotechnologies Stock Performance

The company has a market capitalization of $3.67 billion, a P/E ratio of -69.39 and a beta of 2.07. The business's fifty day simple moving average is $17.09 and its 200-day simple moving average is $16.09.

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

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Francis Lo sold 51,004 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.45, for a total transaction of $1,145,039.80. Following the completion of the transaction, the insider owned 237,688 shares in the company, valued at $5,336,095.60. This trade represents a 17.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 386,240 shares of Adaptive Biotechnologies stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $22.01, for a total value of $8,501,142.40. Following the completion of the sale, the insider directly owned 1,019,658 shares in the company, valued at approximately $22,442,672.58. The trade was a 27.47% decrease in their position. 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. Insiders sold a total of 939,605 shares of company stock valued at $18,858,552 in the last ninety days. Corporate insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Large investors have recently bought and sold shares of the business. Westfield Capital Management Co. LP bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth about $65,942,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Adaptive Biotechnologies by 303.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company's stock valued at $71,252,000 after acquiring an additional 3,299,635 shares during the last quarter. Ameriprise Financial Inc. grew its position in Adaptive Biotechnologies by 84.3% in 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 in the last quarter. Invesco Ltd. grew its position in Adaptive Biotechnologies by 248.8% in the fourth quarter. Invesco Ltd. now owns 3,107,653 shares of the company's stock worth $50,468,000 after acquiring an additional 2,216,595 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Adaptive Biotechnologies by 544.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company's stock worth $36,523,000 after acquiring an additional 2,062,282 shares during the last quarter. Institutional investors 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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