Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.48 and last traded at $13.93, with a volume of 2106187 shares trading hands. The stock had previously closed at $13.94.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on ADPT. TD Cowen boosted their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Craig Hallum initiated coverage on shares of Adaptive Biotechnologies in a report on Wednesday, June 18th. They set a "buy" rating and a $15.00 target price on the stock. Finally, Piper Sandler upped their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.38.
View Our Latest Stock Report on ADPT
Adaptive Biotechnologies Stock Performance
The company has a market cap of $2.12 billion, a PE ratio of -16.99 and a beta of 1.93. The stock's 50 day moving average price is $12.18 and its 200-day moving average price is $10.19.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.07. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company had revenue of $49.94 million during the quarter, compared to analysts' expectations of $49.40 million. During the same quarter in the prior year, the company earned ($0.31) EPS. The firm's revenue was up 36.3% on a year-over-year basis. On average, analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.
Institutional Investors Weigh In On Adaptive Biotechnologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Adaptive Biotechnologies by 36.5% during the 1st quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock valued at $100,000 after buying an additional 3,583 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $87,000. Exchange Traded Concepts LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $634,000. Two Sigma Investments LP raised its holdings in Adaptive Biotechnologies by 251.1% during the 4th quarter. Two Sigma Investments LP now owns 183,838 shares of the company's stock valued at $1,102,000 after buying an additional 131,478 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Adaptive Biotechnologies during the 4th quarter valued at $711,000. 99.17% of the stock is currently owned by institutional investors.
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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