Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 12-Month High – What’s Next?

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $20.86 and last traded at $20.8490, with a volume of 329078 shares traded. The stock had previously closed at $20.25.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADPT. JPMorgan Chase & Co. cut their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley lowered their price target on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Wall Street Zen lowered Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. Finally, Guggenheim reaffirmed a “buy” rating and set a $21.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.33.

Adaptive Biotechnologies Trading Up 2.6%

The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -62.86 and a beta of 2.15. The company has a fifty day moving average of $15.24 and a 200-day moving average of $15.61.

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

Insider Activity

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 6,160 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $18.01, for a total transaction of $110,941.60. Following the sale, the insider owned 1,405,898 shares of the company’s stock, valued at $25,320,222.98. The trade was a 0.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 5,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $19.00, for a total transaction of $95,000.00. Following the sale, the insider directly owned 411,775 shares of the company’s stock, valued at $7,823,725. The trade was a 1.20% decrease in their position. 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. Insiders sold 551,574 shares of company stock valued at $8,427,395 in the last three months. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently bought and sold shares of the business. 1492 Capital Management LLC purchased a new stake in Adaptive Biotechnologies in the 4th quarter valued at $1,484,000. UBS Group AG raised its holdings in shares of Adaptive Biotechnologies by 101.6% during the 4th quarter. UBS Group AG now owns 511,927 shares of the company’s stock worth $8,314,000 after acquiring an additional 257,947 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of Adaptive Biotechnologies by 33.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 362,811 shares of the company’s stock valued at $5,892,000 after acquiring an additional 91,683 shares during the last quarter. Rhenman & Partners Asset Management AB grew its holdings in shares of Adaptive Biotechnologies by 22.2% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 605,000 shares of the company’s stock valued at $9,825,000 after purchasing an additional 110,000 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Adaptive Biotechnologies by 103.9% in the fourth quarter. Jennison Associates LLC now owns 2,674,668 shares of the company’s stock valued at $43,437,000 after purchasing an additional 1,363,181 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.