Weiss Ratings Reiterates Sell (D-) Rating for Adaptive Biotechnologies (NASDAQ:ADPT)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Adaptive Biotechnologies (NASDAQ:ADPT), indicating significant concerns about the company's performance.
• Despite the negative rating, several analysts, including Piper Sandler and Guggenheim, have set higher price targets, with Guggenheim suggesting a target of $20.00 and others raising targets to between $14.00 and $15.00.
• Adaptive Biotechnologies reported a quarterly revenue of $49.94 million, reflecting a 36.3% increase year-over-year, and beat earnings expectations with a reported loss of ($0.17) per share.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also weighed in on the stock. Piper Sandler upped their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Guggenheim assumed coverage on Adaptive Biotechnologies in a report on Tuesday, September 30th. They issued a "buy" rating and a $20.00 price target for the company. JPMorgan Chase & Co. upped their price target on Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Craig Hallum assumed coverage on Adaptive Biotechnologies in a report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price target for the company. Finally, TD Cowen upped their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.22.

Adaptive Biotechnologies Stock Up 5.0%

NASDAQ:ADPT traded up $0.72 on Wednesday, reaching $15.07. 627,701 shares of the company's stock were exchanged, compared to its average volume of 2,021,878. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -18.36 and a beta of 2.06. The business has a fifty day moving average of $12.86 and a 200-day moving average of $10.64. Adaptive Biotechnologies has a 52-week low of $4.27 and a 52-week high of $15.30.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.07. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The firm had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. During the same period in the prior year, the firm earned ($0.31) earnings per share. The business's quarterly revenue was up 36.3% compared to the same quarter last year. As a group, equities analysts anticipate that Adaptive Biotechnologies will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Personal CFO Solutions LLC purchased a new stake in Adaptive Biotechnologies during the 1st quarter worth about $84,000. Blair William & Co. IL acquired a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $84,000. Wealth Enhancement Advisory Services LLC acquired a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $87,000. Candriam S.C.A. acquired a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $90,000. Finally, Caxton Associates LLP acquired a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $93,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.

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