Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Adaptive Biotechnologies holds a “Moderate Buy” consensus from eight analysts, with six buy ratings, one hold, and one sell. The average 12-month price target is $28.94, with recent targets ranging from $32 to $35.
• The company reported quarterly revenue of $71.55 million, up 21.5% year over year and above expectations, but its $0.25 per-share loss was wider than analysts’ forecast. Analysts expect a full-year loss of approximately $0.40 per share.
• Institutional investors own 99.17% of the stock, while insiders sold about $34.9 million worth of shares over the past 90 days. ADPT opened at $26.49, near its $26.06 50-day moving average and below its $30.74 one-year high.

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) have received an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $28.94.

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 price objective for the company. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, September 22nd. Guggenheim lifted their target price on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. Finally, National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a report on Tuesday, September 22nd.

Adaptive Biotechnologies Price Performance

ADPT opened at $26.49 on Monday. The firm has a 50 day moving average price of $26.06 and a 200 day moving average price of $20.12. The company has a market cap of $4.23 billion, a PE ratio of -64.61 and a beta of 2.09. Adaptive Biotechnologies has a 1 year low of $12.00 and a 1 year high of $30.74. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The business had revenue of $71.55 million during the quarter, compared to analysts' expectations of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The company's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) EPS. Sell-side analysts expect that Adaptive Biotechnologies will post -0.40 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Chad Robins sold 321,324 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $25.08, for a total value of $8,058,805.92. Following the completion of the sale, the chief executive officer owned 2,180,518 shares in the company, valued at approximately $54,687,391.44. This trade represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter M. Neupert sold 124,690 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $25.15, for a total value of $3,135,953.50. Following the completion of the sale, the director owned 130,625 shares of the company's stock, valued at approximately $3,285,218.75. This trade represents a 48.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,437,533 shares of company stock valued at $34,857,202 over the last ninety days. Insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds have recently modified their holdings of ADPT. BlackRock Inc. acquired a new stake in shares of Adaptive Biotechnologies during the second quarter valued at about $324,735,000. Wellington Management Group LLP increased its position in shares of Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock worth $126,799,000 after acquiring an additional 2,053,944 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Adaptive Biotechnologies in the second quarter worth about $37,109,000. Principal Financial Group Inc. lifted its stake in shares of Adaptive Biotechnologies by 9.8% in the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company's stock worth $23,664,000 after acquiring an additional 152,378 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Adaptive Biotechnologies in the second quarter valued at about $18,912,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.

The company's product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.

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