Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts collectively rate Adaptive Biotechnologies “Moderate Buy,” with five buy ratings, one hold and one sell among seven firms. The average 12-month price target is $24.42, below the reported share price of $27.67.
• Adaptive reported quarterly revenue of $71.55 million, up 21.5% year over year and above estimates, but its $0.25-per-share loss was wider than the expected $0.13 loss.
• Insiders sold approximately 1.9 million shares worth $43.8 million over the past 90 days, while institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $24.4167.

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. BTIG Research upped their target price on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Morgan Stanley raised their price objective on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Finally, Guggenheim upped their target price on Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, July 30th.

Insider Activity at Adaptive Biotechnologies

In related news, insider Harlan Robins sold 492,400 shares of the business's stock in a transaction dated Tuesday, July 21st. The shares were 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 of the company's stock, valued at approximately $17,775,949.62. The trade was a 37.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Chad Robins sold 278,676 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $24.48, for a total transaction of $6,821,988.48. Following the transaction, the chief executive officer owned 2,180,518 shares of the company's stock, valued at approximately $53,379,080.64. The trade was a 11.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,900,424 shares of company stock worth $43,823,058. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC bought a new position in Adaptive Biotechnologies during the second quarter valued at $855,000. Integrated Wealth Concepts LLC bought a new stake in shares of Adaptive Biotechnologies in the second quarter valued at $46,000. Arizona State Retirement System raised its stake in shares of Adaptive Biotechnologies by 1.3% in the second quarter. Arizona State Retirement System now owns 31,866 shares of the company's stock valued at $684,000 after buying an additional 416 shares during the period. Nykredit A S purchased a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at $754,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Up 3.7%

Shares of NASDAQ:ADPT opened at $27.67 on Thursday. The firm has a market cap of $4.42 billion, a P/E ratio of -67.49 and a beta of 2.09. The business has a fifty day simple moving average of $24.08 and a 200 day simple moving average of $18.49. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. Adaptive Biotechnologies has a 12-month low of $12.00 and a 12-month high of $28.72.

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 firm had revenue of $71.55 million during 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%.The firm's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. Analysts predict that Adaptive Biotechnologies will post -0.4 earnings per share for the current year.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corp. NASDAQ: ADPT is a biotechnology company focused on applying immune-system data to the diagnosis and treatment of disease. The company develops technologies that decode T-cell and B-cell receptors, helping researchers and clinicians analyze the adaptive immune response at the scale of individual immune cells.

Its key products include clonoSEQ, a clinical diagnostic test that measures minimal residual disease in certain blood cancers, including multiple myeloma and acute lymphoblastic leukemia.

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