Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 8.4% – Here’s Why

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares shot up 8.4% during trading on Thursday . The company traded as high as $21.78 and last traded at $21.86. Approximately 857,197 shares traded hands during trading, a decline of 62% from the average daily volume of 2,268,250 shares. The stock had previously closed at $20.16.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. 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. Morgan Stanley upped their target price on Adaptive Biotechnologies from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. TD Cowen lifted their target price on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, BTIG Research reissued a “buy” rating and issued a $22.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.83.

Adaptive Biotechnologies Price Performance

The stock has a market cap of $3.37 billion, a price-to-earnings ratio of -63.82 and a beta of 2.07. The firm’s fifty day moving average price is $16.80 and its two-hundred day moving average price is $16.03.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued 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 company had revenue of $70.87 million during the quarter, compared to the consensus estimate of $61.03 million. During the same period last year, the business posted ($0.20) EPS. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current year.

Insider Transactions at Adaptive Biotechnologies

In related news, insider Francis Lo sold 44,838 shares of Adaptive Biotechnologies stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $22.59, for a total value of $1,012,890.42. Following the completion of the sale, the insider owned 230,713 shares of the company’s stock, valued at approximately $5,211,806.67. This trade represents a 16.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 5,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. Following the sale, the insider owned 411,775 shares of the company’s stock, valued at $7,823,725. This trade represents a 1.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 958,665 shares of company stock worth $19,109,191. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its stake in Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after purchasing an additional 1,565 shares during the last quarter. KBC Group NV acquired a new position in Adaptive Biotechnologies during the 1st quarter valued at about $45,000. Assetmark Inc. increased its holdings in 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. purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth approximately $51,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.