Adaptive Biotechnologies (NASDAQ:ADPT) Reaches New 1-Year High - Should You Buy?

Key Points

• Adaptive Biotechnologies shares reached a new 52-week high of $28.78, with the stock last trading at $27.86 and a market capitalization of approximately $4.45 billion.
• Analyst sentiment is generally positive: five analysts rate the stock Buy, one rates it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $24.42—below the current price.
• The company’s latest quarterly revenue rose 21.5% year over year to $71.55 million, beating estimates, but its $0.25 per-share loss was wider than expected. Insiders sold more than $47 million of stock over the past 90 days, while institutional investors own 99.17% of shares.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $28.78 and last traded at $27.86, with a volume of 1458524 shares changing hands. The stock had previously closed at $28.61.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADPT shares. Piper Sandler raised their price objective on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a report on Tuesday, August 4th. TD Cowen increased their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Guggenheim lifted their price target on Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. BTIG Research boosted their price target on Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.42.

Adaptive Biotechnologies Stock Performance

The firm has a market capitalization of $4.45 billion, a P/E ratio of -67.95 and a beta of 2.09. The company has a 50-day moving average of $24.50 and a 200-day moving average of $18.75. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) 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 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 last year, the firm posted ($0.17) EPS. On average, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Adaptive Biotechnologies news, CEO Chad Robins sold 321,324 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $25.08, for a total transaction of $8,058,805.92. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sharon Benzeno sold 154,768 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the completion of the sale, the insider directly owned 221,278 shares in the company, valued at approximately $4,677,816.92. This represents a 41.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,017,025 shares of company stock valued at $47,093,615 over the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at about $324,735,000. Westfield Capital Management Co. LP acquired a new stake in Adaptive Biotechnologies during the fourth quarter worth approximately $65,942,000. Wellington Management Group LLP grew its stake in 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 purchasing an additional 2,053,944 shares during the period. Bank of America Corp DE bought a new stake in Adaptive Biotechnologies in the second quarter worth approximately $37,109,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in Adaptive Biotechnologies in the fourth quarter worth approximately $26,801,000. Institutional investors own 99.17% of the company's stock.

About Adaptive Biotechnologies

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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