Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 12-Month High - Should You Buy?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $10.37 and last traded at $10.12, with a volume of 306573 shares. The stock had previously closed at $9.87.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Scotiabank raised their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, Piper Sandler reiterated an "overweight" rating and set a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.83.

Adaptive Biotechnologies Stock Up 2.8%

The company has a market cap of $1.54 billion, a PE ratio of -9.31 and a beta of 1.75. The stock has a 50-day moving average of $8.46 and a 200-day moving average of $7.57.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business had revenue of $52.44 million for the quarter, compared to the consensus estimate of $42.13 million. During the same period last year, the firm posted ($0.33) earnings per share. Adaptive Biotechnologies's quarterly revenue was up 25.2% on a year-over-year basis. Research analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Buying and Selling

In other news, Director Peter M. Neupert sold 10,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the transaction, the director now directly owns 224,690 shares in the company, valued at approximately $1,584,064.50. This represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Hershberg sold 53,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the completion of the sale, the director now directly owns 69,690 shares of the company's stock, valued at $528,947.10. This trade represents a 43.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,039 shares of company stock worth $1,008,029. Corporate insiders own 6.40% of the company's stock.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in shares of Adaptive Biotechnologies by 35.6% in the fourth quarter. Renaissance Technologies LLC now owns 229,785 shares of the company's stock worth $1,378,000 after buying an additional 60,385 shares during the period. Janus Henderson Group PLC bought a new stake in Adaptive Biotechnologies in the 4th quarter worth $281,000. XTX Topco Ltd bought a new stake in Adaptive Biotechnologies in the 4th quarter worth $177,000. Charles Schwab Investment Management Inc. increased its position in shares of Adaptive Biotechnologies by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company's stock valued at $5,735,000 after acquiring an additional 39,831 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Adaptive Biotechnologies by 3.0% during the fourth quarter. Invesco Ltd. now owns 173,591 shares of the company's stock valued at $1,041,000 after acquiring an additional 4,985 shares during the last quarter. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.