Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.5714.

A number of brokerages have weighed in on ADPT. JPMorgan Chase & Co. decreased their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Guggenheim reiterated a “buy” rating and set a $21.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. Wall Street Zen downgraded Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Morgan Stanley decreased their price target on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Finally, TD Cowen increased their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $17.60 on Tuesday. The business’s 50 day simple moving average is $14.57 and its 200 day simple moving average is $15.68. Adaptive Biotechnologies has a one year low of $9.90 and a one year high of $20.76. The stock has a market capitalization of $2.82 billion, a PE ratio of -53.33 and a beta of 2.15.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The business had revenue of $70.87 million for the quarter, compared to analysts’ expectations of $61.03 million. During the same period in the prior year, the business posted ($0.20) earnings per share. The firm’s revenue was up 35.1% on a year-over-year basis. As a group, research analysts expect that Adaptive Biotechnologies will post -0.47 earnings per share for the current year.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 3,115 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $13.04, for a total transaction of $40,619.60. Following the completion of the sale, the chief financial officer directly owned 256,725 shares in the company, valued at approximately $3,347,694. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Susan Bobulsky sold 11,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $18.00, for a total value of $198,000.00. Following the sale, the insider owned 416,775 shares of the company’s stock, valued at approximately $7,501,950. The trade was a 2.57% 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 90 days, insiders have sold 516,654 shares of company stock valued at $7,509,691. 5.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently made changes to their positions in ADPT. Caitong International Asset Management Co. Ltd bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Adaptive Biotechnologies by 197.1% during 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. KBC Group NV bought a new position in shares of Adaptive Biotechnologies during the 1st quarter worth about $45,000. Assetmark Inc. boosted its position in shares of Adaptive Biotechnologies by 867.9% during the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after purchasing an additional 2,708 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth about $51,000. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.