Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 6.4% - What's Next?

Key Points

• Adaptive Biotechnologies shares rose 6.4% to about $26.37, despite trading volume falling 53% below its average.
• Analyst sentiment is broadly positive, with five Buy ratings, one Hold and one Sell; the average rating is “Moderate Buy,” although the $24.42 average price target is below the current share price.
• The company’s latest quarter showed 21.5% year-over-year revenue growth to $71.55 million but an adjusted loss of $0.25 per share, missing estimates. Insiders also sold roughly 1.9 million shares worth $43.8 million over the past quarter.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) rose 6.4% on Tuesday . The company traded as high as $26.00 and last traded at $26.3680. Approximately 1,062,053 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 2,258,277 shares. The stock had previously closed at $24.78.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADPT. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. TD Cowen boosted their price objective on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. BTIG Research increased their price objective on Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Morgan Stanley raised their target price on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Finally, Guggenheim lifted their target price on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Five equities research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $24.42.

Adaptive Biotechnologies Stock Performance

The business has a fifty day moving average of $23.81 and a 200-day moving average of $18.33. The company has a market cap of $4.31 billion, a PE ratio of -66.00 and a beta of 2.09. 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 data on Wednesday, July 29th. The company reported ($0.25) earnings per share 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 business had revenue of $71.55 million during the quarter, compared to analysts' expectations of $65.44 million. During the same quarter last year, the business posted ($0.17) EPS. The company's quarterly revenue was up 21.5% compared to the same quarter last year. Equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Chad Robins sold 278,676 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $24.48, for a total value of $6,821,988.48. Following the completion of the sale, the chief executive officer directly owned 2,180,518 shares of the company's stock, valued at approximately $53,379,080.64. This trade represents a 11.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter M. Neupert sold 124,690 shares of Adaptive Biotechnologies stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $25.15, for a total transaction of $3,135,953.50. Following the sale, the director directly owned 130,625 shares in the company, valued at $3,285,218.75. The trade was a 48.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,900,424 shares of company stock valued at $43,823,058 over the last quarter. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Adaptive Biotechnologies in the fourth quarter worth $28,000. Nykredit A S bought a new position in shares of Adaptive Biotechnologies during the second quarter valued at $31,000. Allworth Financial LP purchased a new position in shares of Adaptive Biotechnologies in the 2nd quarter worth about $35,000. EverSource Wealth Advisors LLC boosted its stake in Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock worth $38,000 after purchasing an additional 1,565 shares in the last quarter. Finally, KBC Group NV bought a new position in Adaptive Biotechnologies in the 1st quarter worth about $45,000. 99.17% of the stock is owned by institutional investors.

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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