Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $10.87 and last traded at $10.63, with a volume of 1381759 shares traded. The stock had previously closed at $10.46.
Wall Street Analysts Forecast Growth
ADPT has been the subject of a number of recent research reports. Scotiabank lifted their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 13th. The Goldman Sachs Group increased their target price on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley boosted their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $9.83.
View Our Latest Analysis on Adaptive Biotechnologies
Adaptive Biotechnologies Stock Performance
The firm has a market cap of $1.58 billion, a P/E ratio of -9.55 and a beta of 1.80. The business's 50-day simple moving average is $8.74 and its 200 day simple moving average is $7.77.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.08. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The company had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. Adaptive Biotechnologies's revenue was up 25.2% compared to the same quarter last year. As a group, equities research analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.
Insider Activity
In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the sale, the insider now directly owns 1,279,524 shares of the company's stock, valued at approximately $9,404,501.40. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 72,039 shares of company stock valued at $535,259 in the last quarter. 6.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Adaptive Biotechnologies
Several hedge funds and other institutional investors have recently modified their holdings of ADPT. Fox Run Management L.L.C. grew its holdings in Adaptive Biotechnologies by 8.2% during the first quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company's stock valued at $160,000 after purchasing an additional 1,631 shares during the period. Russell Investments Group Ltd. increased its holdings in Adaptive Biotechnologies by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock worth $486,000 after acquiring an additional 2,163 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Adaptive Biotechnologies by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company's stock worth $395,000 after acquiring an additional 2,625 shares in the last quarter. D.A. Davidson & CO. raised its stake in Adaptive Biotechnologies by 3.8% during the 1st quarter. D.A. Davidson & CO. now owns 91,850 shares of the company's stock worth $682,000 after acquiring an additional 3,400 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Adaptive Biotechnologies by 36.5% during the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock valued at $100,000 after purchasing an additional 3,583 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other 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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