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

Key Points

• Adaptive Biotechnologies shares hit a new 52-week high, reaching $24.62 and closing around $24.55, supported by strong upward momentum.
• Analysts maintain a Moderate Buy consensus, with five Buy ratings and an average price target of $24.42; recent targets range as high as $28.00.
• The company’s quarterly revenue rose 21.5% year over year to $71.55 million, beating estimates, but its adjusted loss of $0.25 per share was wider than expected. Insiders also sold more than 1.3 million shares worth approximately $27.9 million over the past 90 days.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.62 and last traded at $24.55, with a volume of 3291444 shares changing hands. The stock had previously closed at $23.11.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Guggenheim upped their target price on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Piper Sandler boosted their price objective on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a report on Tuesday. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, TD Cowen lifted their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.42.

Adaptive Biotechnologies Stock Performance

The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The company has a market capitalization of $3.93 billion, a PE ratio of -59.88 and a beta of 2.08. The company has a 50 day moving average price of $19.82 and a 200 day moving average price of $16.73.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.12). The company had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The firm's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. Equities analysts forecast that Adaptive Biotechnologies Corporation will post -0.41 EPS for the current year.

Insider Activity at Adaptive Biotechnologies

In other news, insider Sharon Benzeno sold 154,768 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $21.14, for a total value of $3,271,795.52. Following the completion of the sale, the insider owned 221,278 shares of the company's stock, valued at approximately $4,677,816.92. The trade was a 41.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 492,400 shares of the company's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $21.89, for a total transaction of $10,778,636.00. Following the completion of the sale, the insider owned 812,058 shares in the company, valued at approximately $17,775,949.62. This trade represents a 37.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,307,086 shares of company stock valued at $27,859,739 in the last 90 days. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of ADPT. Ameriprise Financial Inc. lifted its holdings 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 buying an additional 2,731,648 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Adaptive Biotechnologies by 303.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company's stock valued at $71,252,000 after acquiring an additional 3,299,635 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at approximately $65,942,000. Geode Capital Management LLC raised its position in shares of Adaptive Biotechnologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company's stock valued at $57,041,000 after acquiring an additional 110,825 shares in the last quarter. Finally, State Street Corp lifted its stake in Adaptive Biotechnologies by 3.3% during the fourth quarter. State Street Corp now owns 3,181,644 shares of the company's stock worth $51,670,000 after purchasing an additional 102,362 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

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