Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 4.2% - Should You Buy?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report)'s share price rose 4.2% during trading on Wednesday . The company traded as high as $11.18 and last traded at $11.10. Approximately 586,936 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 1,567,606 shares. The stock had previously closed at $10.65.

Analyst Ratings Changes

ADPT has been the subject of a number of research reports. Craig Hallum assumed coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price for the company. The Goldman Sachs Group raised their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley upped their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $10.57.

Adaptive Biotechnologies Trading Up 11.1%

The company has a market cap of $1.80 billion, a P/E ratio of -12.29 and a beta of 1.80. The firm's 50 day moving average price is $9.14 and its 200-day moving average price is $8.02.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.08. The firm had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. Adaptive Biotechnologies had a negative net margin of 74.84% and a negative return on equity of 62.79%. The business's quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.33) EPS. Analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total value of $502,828.20. Following the sale, the insider now directly owns 1,279,524 shares of the company's stock, valued at approximately $9,404,501.40. The trade was a 5.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company's stock.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Adaptive Biotechnologies by 801.6% during the first 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 in the last quarter. Braidwell LP bought a new position in Adaptive Biotechnologies in the first quarter valued at $35,692,000. Voya Investment Management LLC increased its stake in Adaptive Biotechnologies by 6,121.7% in the 4th quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock valued at $14,560,000 after buying an additional 2,389,674 shares during the last quarter. Iron Triangle Partners LP bought a new stake in Adaptive Biotechnologies during the 1st quarter worth about $15,856,000. Finally, Soleus Capital Management L.P. boosted its stake in shares of Adaptive Biotechnologies by 168.1% during the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock worth $17,884,000 after buying an additional 1,870,393 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

About Adaptive Biotechnologies

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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