Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 4.4% - Should You Buy?

Key Points

• Adaptive Biotechnologies shares rose 4.4% to about $29.12, outperforming their previous close, though trading volume was 88% below average.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $27.07; BTIG Research and National Bank Financial set higher targets of $34.
• The company exceeded revenue expectations with 21.5% year-over-year growth to $71.55 million, but missed quarterly EPS estimates and remains unprofitable. Insiders have also sold more than 2 million shares worth approximately $47.1 million over the past quarter.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) traded up 4.4% during mid-day trading on Thursday . The stock traded as high as $29.10 and last traded at $29.1230. Approximately 282,467 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,287,464 shares. The stock had previously closed at $27.89.

Analysts Set New Price Targets

Several research analysts recently commented on ADPT shares. Guggenheim raised their price objective on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. BTIG Research increased their target price on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday. Morgan Stanley raised their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Finally, National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.07.

Adaptive Biotechnologies Trading Up 3.6%

The firm's 50 day moving average is $24.73 and its 200 day moving average is $18.91. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. The company has a market cap of $4.61 billion, a PE ratio of -70.56 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The firm had revenue of $71.55 million during the quarter, compared to analysts' expectations of $65.44 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Insider Transactions at Adaptive Biotechnologies

In related news, insider Harlan S. Robins sold 492,400 shares of the business's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $21.89, for a total transaction of $10,778,636.00. Following the completion of the transaction, the insider directly owned 812,058 shares in the company, valued at $17,775,949.62. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 115,406 shares of the company's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $28.06, for a total value of $3,238,292.36. Following the completion of the transaction, the insider owned 220,867 shares in the company, valued at $6,197,528.02. This represents a 34.32% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 2,017,025 shares of company stock valued at $47,093,615. Corporate insiders own 5.70% of the company's stock.

Institutional Trading of Adaptive Biotechnologies

A number of large investors have recently modified their holdings of ADPT. Nykredit A S bought a new position in shares of Adaptive Biotechnologies in the second quarter worth approximately $31,000. Allworth Financial LP purchased a new stake in Adaptive Biotechnologies in the second quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $28,000. Integrated Wealth Concepts LLC bought a new stake in Adaptive Biotechnologies during the second quarter valued at approximately $46,000. Finally, EverSource Wealth Advisors LLC lifted its position in Adaptive Biotechnologies by 197.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock valued at $38,000 after purchasing an additional 1,565 shares during the last quarter. 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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