Adaptive Biotechnologies (NASDAQ:ADPT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Adaptive Biotechnologies (NASDAQ:ADPT) from a hold rating to a buy rating in a research report sent to investors on Sunday morning.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, January 21st. BTIG Research lifted their price target on Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Adaptive Biotechnologies in a report on Friday. Finally, Piper Sandler set a $21.00 price target on shares of Adaptive Biotechnologies in a report on Friday. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.56.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT opened at $15.64 on Friday. Adaptive Biotechnologies has a 1 year low of $6.26 and a 1 year high of $20.76. The firm has a 50-day moving average of $16.91 and a 200 day moving average of $15.33. The stock has a market cap of $2.39 billion, a P/E ratio of -39.10 and a beta of 2.18.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.10. Adaptive Biotechnologies had a negative net margin of 21.48% and a negative return on equity of 46.68%. The business had revenue of $71.68 million during the quarter, compared to the consensus estimate of $59.38 million. During the same quarter last year, the firm earned ($0.23) earnings per share. The business’s revenue for the quarter was up 51.0% on a year-over-year basis. Research analysts expect that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In related news, insider Harlan S. Robins sold 8,120 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $19.00, for a total value of $154,280.00. Following the completion of the sale, the insider owned 1,179,524 shares of the company’s stock, valued at $22,410,956. The trade was a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kyle Piskel sold 2,145 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $18.46, for a total value of $39,596.70. Following the sale, the chief financial officer owned 216,637 shares of the company’s stock, valued at approximately $3,999,119.02. This trade represents a 0.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,513,196 shares of company stock worth $26,291,033. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of large investors have recently made changes to their positions in ADPT. XTX Topco Ltd bought a new position in Adaptive Biotechnologies in the 2nd quarter valued at $793,000. SG Americas Securities LLC boosted its stake in shares of Adaptive Biotechnologies by 53.2% during the second quarter. SG Americas Securities LLC now owns 37,328 shares of the company’s stock valued at $435,000 after purchasing an additional 12,963 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Adaptive Biotechnologies during the second quarter valued at $6,618,000. Envestnet Asset Management Inc. bought a new position in shares of Adaptive Biotechnologies in the second quarter worth about $467,000. Finally, Intech Investment Management LLC increased its stake in Adaptive Biotechnologies by 26.0% in the 2nd quarter. Intech Investment Management LLC now owns 72,605 shares of the company’s stock worth $846,000 after buying an additional 14,990 shares during the period. 99.17% of the stock is currently owned by institutional investors.

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.