Adaptive Biotechnologies (NASDAQ:ADPT) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Adaptive Biotechnologies (NASDAQ:ADPT) from a buy rating to a hold rating in a research note released on Saturday morning.

ADPT has been the topic of several other reports. Guggenheim increased their target price on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Piper Sandler raised their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Morgan Stanley initiated coverage on Adaptive Biotechnologies in a research report on Monday, December 1st. They set an “equal weight” rating and a $21.00 target price on the stock. BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.22.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $18.39 on Friday. Adaptive Biotechnologies has a 1 year low of $6.26 and a 1 year high of $20.76. The firm has a market capitalization of $2.81 billion, a P/E ratio of -34.05 and a beta of 2.18. The business’s 50-day moving average is $17.25 and its 200 day moving average is $15.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.The firm had revenue of $93.97 million for the quarter, compared to the consensus estimate of $58.76 million. During the same period in the prior year, the firm earned ($0.22) EPS. The firm’s revenue was up 102.4% on a year-over-year basis. On average, analysts expect that Adaptive Biotechnologies will post -0.92 EPS for the current year.

Insider Transactions at Adaptive Biotechnologies

In related news, CFO Kyle Piskel sold 4,290 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $18.00, for a total value of $77,220.00. Following the sale, the chief financial officer owned 216,637 shares of the company’s stock, valued at $3,899,466. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad M. Robins sold 124,998 shares of Adaptive Biotechnologies stock in a transaction on Monday, January 5th. The stock was sold at an average price of $15.59, for a total transaction of $1,948,718.82. Following the sale, the chief executive officer directly owned 2,584,243 shares of the company’s stock, valued at approximately $40,288,348.37. This trade represents a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,442,530 shares of company stock worth $24,610,748. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ADPT. XTX Topco Ltd acquired a new stake in Adaptive Biotechnologies during the 2nd quarter valued at $793,000. SG Americas Securities LLC raised its stake in Adaptive Biotechnologies by 53.2% in the 2nd quarter. SG Americas Securities LLC now owns 37,328 shares of the company’s stock valued at $435,000 after purchasing an additional 12,963 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Adaptive Biotechnologies in the 2nd quarter valued at about $6,618,000. Envestnet Asset Management Inc. acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $467,000. Finally, Intech Investment Management LLC raised its position in shares of Adaptive Biotechnologies by 26.0% in the second quarter. Intech Investment Management LLC now owns 72,605 shares of the company’s stock valued at $846,000 after buying an additional 14,990 shares during the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.