Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 1-Year High - Here's What Happened

Key Points

• Adaptive Biotechnologies shares reached a new 52-week high of $26.16, closing around $25.64 after rising 4.1%. Analysts remain broadly positive, with an average “Moderate Buy” rating and a $24.42 average price target, while several firms raised targets as high as $28.
• The company’s latest quarterly results were mixed: revenue rose 21.5% year over year to $71.55 million, exceeding estimates, but adjusted EPS of negative $0.25 missed consensus by $0.12. Adaptive reported a negative net margin and analysts expect a full-year loss.
• Institutional ownership is substantial at 99.17%, including a new position by BlackRock valued at roughly $324.7 million. Meanwhile, insiders sold more than 1.3 million shares worth approximately $27.9 million over the past 90 days, primarily through pre-arranged trading plans.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $26.16 and last traded at $25.64, with a volume of 114156 shares changing hands. The stock had previously closed at $24.56.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ADPT. Piper Sandler increased their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. BTIG Research upped their price objective on Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. TD Cowen lifted their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Morgan Stanley upped their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. decreased their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Adaptive Biotechnologies presently has an average rating of "Moderate Buy" and an average target price of $24.42.

Adaptive Biotechnologies Stock Up 4.1%

The stock has a market capitalization of $4.08 billion, a PE ratio of -62.50 and a beta of 2.08. The firm has a 50 day moving average of $21.58 and a two-hundred day moving average of $17.19. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The business had revenue of $71.55 million during the quarter, compared to analyst estimates of $65.44 million. During the same period in the previous year, the company posted ($0.17) earnings per share. Adaptive Biotechnologies's revenue was up 21.5% on a year-over-year basis. Equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In related news, insider Harlan S. Robins sold 492,400 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $21.89, for a total value of $10,778,636.00. Following the completion of the sale, the insider directly owned 812,058 shares in the company, valued at approximately $17,775,949.62. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sharon Benzeno sold 154,768 shares of the company's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the transaction, the insider directly owned 221,278 shares of the company's stock, valued at $4,677,816.92. This trade represents a 41.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,306,971 shares of company stock valued at $27,894,120. Insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Adaptive Biotechnologies during the second quarter worth about $324,735,000. Ameriprise Financial Inc. increased its position in Adaptive Biotechnologies by 84.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock worth $89,337,000 after purchasing an additional 2,731,648 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Adaptive Biotechnologies by 303.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company's stock valued at $71,252,000 after buying an additional 3,299,635 shares during the period. Westfield Capital Management Co. LP purchased a new position in Adaptive Biotechnologies in the fourth quarter valued at approximately $65,942,000. Finally, Geode Capital Management LLC lifted its position in Adaptive Biotechnologies by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company's stock valued at $57,041,000 after buying an additional 110,825 shares in the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source