Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 12-Month High - Here's Why

Key Points

• Adaptive Biotechnologies shares reached a new 52-week high of $26.16, trading near $25.45 and well above their 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $24.42; several firms recently raised their targets to as high as $28.
• The company’s latest quarter showed 21.5% year-over-year revenue growth to $71.55 million, exceeding estimates, although its $0.25 per-share loss was wider than expected. Insiders sold about $27.9 million in stock during the last quarter.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.16 and last traded at $25.45, with a volume of 2366031 shares changing hands. The stock had previously closed at $24.93.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ADPT shares. BTIG Research lifted 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. Piper Sandler raised their target price on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. dropped 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. TD Cowen boosted their price target on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.42.

Adaptive Biotechnologies Price Performance

The stock has a fifty day simple moving average of $20.60 and a 200-day simple moving average of $16.92. The company has a market capitalization of $4.06 billion, a PE ratio of -62.07 and a beta of 2.08. 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 earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The business had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.Adaptive Biotechnologies's revenue was up 21.5% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. Equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Francis Lo sold 51,004 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 237,688 shares of the company's stock, valued at approximately $5,336,095.60. This trade represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 492,400 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $21.89, for a total value of $10,778,636.00. Following the transaction, the insider directly owned 812,058 shares in the company, valued at approximately $17,775,949.62. This trade represents a 37.75% 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 quarter, insiders have sold 1,307,086 shares of company stock worth $27,859,739. Corporate insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ADPT. California State Teachers Retirement System raised its position in shares of Adaptive Biotechnologies by 1.0% in the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company's stock worth $1,145,000 after buying an additional 933 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Adaptive Biotechnologies by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company's stock valued at $205,000 after acquiring an additional 941 shares in the last quarter. Captrust Financial Advisors boosted its position in Adaptive Biotechnologies by 7.6% during the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company's stock worth $184,000 after purchasing an additional 1,119 shares during the period. Assetmark Inc. increased its holdings in Adaptive Biotechnologies by 46.4% in the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company's stock valued at $61,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Adaptive Biotechnologies by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,419 shares of the company's stock valued at $120,000 after purchasing an additional 1,532 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