Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 12-Month High - Time to Buy?

Key Points

• Adaptive Biotechnologies' stock has reached a new 52-week high of $17.65, reflecting strong market interest with a trading volume of 334,839 shares.
• Analyst ratings are mixed; while TD Cowen and Piper Sandler have upgraded their price targets and rated the stock as a "buy," Weiss Ratings maintains a "sell" rating.
• The company's most recent earnings report showed a revenue increase of 36.3% year-over-year, with earnings per share beating estimates at ($0.17).

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $17.65 and last traded at $17.57, with a volume of 334839 shares. The stock had previously closed at $16.30.

Wall Street Analyst Weigh In

ADPT has been the topic of several recent research reports. TD Cowen increased their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Guggenheim started coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a "buy" rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Adaptive Biotechnologies from $14.00 to $17.00 and gave the company an "overweight" rating in a research note on Monday, October 13th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.11.

Adaptive Biotechnologies Trading Up 9.4%

The company has a market cap of $2.71 billion, a price-to-earnings ratio of -21.74 and a beta of 2.06. The stock's fifty day simple moving average is $13.63 and its 200 day simple moving average is $11.11.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $49.94 million during the quarter, compared to analyst estimates of $49.40 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The business's revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.31) earnings per share. On average, analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in Adaptive Biotechnologies by 801.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company's stock worth $49,355,000 after buying an additional 5,905,756 shares during the period. Braidwell LP purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth $35,692,000. Iron Triangle Partners LP acquired a new stake in shares of Adaptive Biotechnologies in the first quarter valued at $15,856,000. Victory Capital Management Inc. boosted its holdings in Adaptive Biotechnologies by 9,892.2% in the first quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company's stock valued at $13,108,000 after purchasing an additional 1,746,571 shares during the period. Finally, Driehaus Capital Management LLC grew its stake in Adaptive Biotechnologies by 154.4% during the 1st quarter. Driehaus Capital Management LLC now owns 2,152,335 shares of the company's stock worth $15,992,000 after purchasing an additional 1,306,164 shares in the last quarter. Hedge funds and other 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.

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