Adaptive Biotechnologies (NASDAQ:ADPT) Price Target Raised to $21.00 at BTIG Research

Adaptive Biotechnologies (NASDAQ:ADPT) had its price target raised by BTIG Research from $19.00 to $21.00 in a research report report published on Thursday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler lifted their target price on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. TD Cowen boosted their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Guggenheim started coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued 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 target price of $15.78.

Adaptive Biotechnologies Stock Down 4.9%

Shares of ADPT stock traded down $0.77 during trading hours on Thursday, reaching $14.79. 2,944,583 shares of the stock traded hands, compared to its average volume of 1,993,778. The firm has a market capitalization of $2.25 billion, a PE ratio of -18.04 and a beta of 2.09. Adaptive Biotechnologies has a 1-year low of $4.27 and a 1-year high of $17.89. The business has a fifty day moving average price of $14.83 and a 200 day moving average price of $11.99.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The firm had revenue of $93.97 million for the quarter, compared to analysts’ expectations of $58.76 million. During the same period in the previous year, the company posted ($0.22) EPS. The company’s quarterly revenue was up 102.4% compared to the same quarter last year. Research analysts expect that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently made changes to their positions in ADPT. Sound Income Strategies LLC acquired a new stake in Adaptive Biotechnologies in the third quarter worth $30,000. Smartleaf Asset Management LLC increased its position in shares of Adaptive Biotechnologies by 593.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after buying an additional 3,371 shares in the last quarter. Blair William & Co. IL acquired a new stake in Adaptive Biotechnologies during the 1st quarter worth $84,000. Personal CFO Solutions LLC bought a new position in Adaptive Biotechnologies during the first quarter worth about $84,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Adaptive Biotechnologies during the first quarter worth about $87,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

About Adaptive Biotechnologies

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.