Adaptive Biotechnologies Co. (NASDAQ:ADPT) Given Average Rating of “Hold” by Analysts

Adaptive Biotechnologies Co. (NASDAQ:ADPTGet Rating) has been given an average rating of “Hold” by the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $20.07.

A number of research analysts recently commented on ADPT shares. BTIG Research reduced their target price on Adaptive Biotechnologies to $17.00 in a research note on Tuesday, August 9th. Morgan Stanley reduced their target price on Adaptive Biotechnologies from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. Piper Sandler reduced their price objective on Adaptive Biotechnologies from $12.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 26th. Finally, Credit Suisse Group assumed coverage on Adaptive Biotechnologies in a research note on Wednesday, August 24th. They set an “underperform” rating and a $8.00 price objective on the stock.

Insider Transactions at Adaptive Biotechnologies

In other news, insider Nitin Sood sold 31,066 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $8.00, for a total transaction of $248,528.00. Following the completion of the sale, the insider now directly owns 114,505 shares in the company, valued at $916,040. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 35,150 shares of company stock worth $279,719. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Manchester Capital Management LLC purchased a new stake in Adaptive Biotechnologies in the first quarter worth about $43,000. Nisa Investment Advisors LLC lifted its holdings in Adaptive Biotechnologies by 3,683.5% in the second quarter. Nisa Investment Advisors LLC now owns 5,978 shares of the company’s stock worth $48,000 after buying an additional 5,820 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Adaptive Biotechnologies in the third quarter worth about $61,000. PNC Financial Services Group Inc. lifted its holdings in Adaptive Biotechnologies by 176.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock worth $73,000 after buying an additional 3,380 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in Adaptive Biotechnologies in the second quarter worth about $83,000. 93.49% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock opened at $8.30 on Friday. The stock has a market cap of $1.19 billion, a P/E ratio of -5.32 and a beta of 1.05. Adaptive Biotechnologies has a fifty-two week low of $5.95 and a fifty-two week high of $30.51. The firm’s fifty day moving average price is $7.52 and its 200-day moving average price is $8.43.

Adaptive Biotechnologies (NASDAQ:ADPTGet Rating) last released its earnings results on Thursday, November 3rd. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. The business had revenue of $47.80 million for the quarter, compared to analysts’ expectations of $48.41 million. Adaptive Biotechnologies had a negative return on equity of 40.95% and a negative net margin of 131.81%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. Sell-side analysts predict that Adaptive Biotechnologies will post -1.51 earnings per share for the current year.

About Adaptive Biotechnologies

(Get Rating)

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.

Featured Stories

Analyst Recommendations for Adaptive Biotechnologies (NASDAQ:ADPT)

Receive News & Ratings for Adaptive Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adaptive Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.