Adaptive Biotechnologies (NASDAQ:ADPT) Shares Up 8.1% – Time to Buy?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s stock price was up 8.1% during mid-day trading on Thursday . The company traded as high as $16.92 and last traded at $17.2810. Approximately 161,415 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,897,089 shares. The stock had previously closed at $15.99.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ADPT shares. Wall Street Zen downgraded Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Piper Sandler set a $21.00 price objective on Adaptive Biotechnologies in a research note on Friday, February 6th. TD Cowen lifted their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley reduced their price objective on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.57.

Adaptive Biotechnologies Price Performance

The company has a market capitalization of $2.77 billion, a P/E ratio of -52.33 and a beta of 2.15. The business has a 50-day moving average of $14.03 and a 200-day moving average of $15.57.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $70.87 million during the quarter, compared to the consensus estimate 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 revenue was up 35.1% on a year-over-year basis. During the same period last year, the company earned ($0.20) earnings per share. Sell-side analysts predict that Adaptive Biotechnologies Corporation will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 141,583 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $13.29, for a total value of $1,881,638.07. Following the transaction, the chief operating officer owned 516,610 shares of the company’s stock, valued at $6,865,746.90. This represents a 21.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sharon Benzeno sold 63,103 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $13.17, for a total value of $831,066.51. Following the completion of the transaction, the insider directly owned 272,751 shares in the company, valued at $3,592,130.67. This trade represents a 18.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,771,096 shares of company stock worth $23,926,217 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH grew its position in Adaptive Biotechnologies by 305.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 321,774 shares of the company’s stock valued at $4,814,000 after acquiring an additional 242,474 shares during the last quarter. UBS Group AG grew its position in Adaptive Biotechnologies by 101.6% in the 4th quarter. UBS Group AG now owns 511,927 shares of the company’s stock valued at $8,314,000 after acquiring an additional 257,947 shares during the last quarter. Affinity Wealth Management LLC purchased a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth $4,541,000. Jupiter Asset Management Ltd. lifted its holdings in shares of Adaptive Biotechnologies by 33.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 362,811 shares of the company’s stock worth $5,892,000 after buying an additional 91,683 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Adaptive Biotechnologies by 103.9% in the 4th quarter. Jennison Associates LLC now owns 2,674,668 shares of the company’s stock worth $43,437,000 after buying an additional 1,363,181 shares during the period. Institutional investors own 99.17% of the company’s stock.

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.