Adaptive Biotechnologies Co. (NASDAQ:ADPT) Receives $9.50 Consensus Target Price from Analysts

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $9.83.

ADPT has been the topic of several recent research reports. Morgan Stanley upped their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. The Goldman Sachs Group upped their price target on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, Scotiabank upped their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th.

Adaptive Biotechnologies Stock Performance

ADPT opened at $9.03 on Monday. Adaptive Biotechnologies has a 52-week low of $2.99 and a 52-week high of $10.28. The stock has a market capitalization of $1.37 billion, a PE ratio of -8.28 and a beta of 1.75. The stock’s 50 day moving average price is $7.86 and its 200-day moving average price is $7.07.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.08. The firm had revenue of $52.44 million for the quarter, compared to analysts’ expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The business’s revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.33) earnings per share. Research analysts forecast that Adaptive Biotechnologies will post -0.92 EPS for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In other news, Director Peter M. Neupert sold 10,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $7.05, for a total value of $70,500.00. Following the sale, the director now directly owns 224,690 shares of the company’s stock, valued at approximately $1,584,064.50. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Harlan S. Robins sold 68,412 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total value of $502,828.20. Following the completion of the sale, the insider now directly owns 1,279,524 shares in the company, valued at approximately $9,404,501.40. This represents a 5.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 826,013 shares of company stock valued at $6,543,452. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ADPT. KBC Group NV bought a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at $50,000. GAMMA Investing LLC bought a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at $59,000. Cibc World Markets Corp bought a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at $65,000. Bridgefront Capital LLC bought a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at $80,000. Finally, Personal CFO Solutions LLC bought a new position in shares of Adaptive Biotechnologies during the first quarter valued at $84,000. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.