Morgan Stanley Cuts Adaptive Biotechnologies (NASDAQ:ADPT) Price Target to $18.00

Adaptive Biotechnologies (NASDAQ:ADPT) had its price target lowered by Morgan Stanley from $21.00 to $18.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 35.40% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. Guggenheim reaffirmed a “buy” rating and set a $21.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. TD Cowen upped their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, BTIG Research reaffirmed a “buy” rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.57.

Adaptive Biotechnologies Trading Down 1.8%

Adaptive Biotechnologies stock traded down $0.25 during mid-day trading on Tuesday, hitting $13.29. The company had a trading volume of 378,557 shares, compared to its average volume of 1,951,774. The stock’s 50 day moving average price is $14.17 and its two-hundred day moving average price is $15.84. Adaptive Biotechnologies has a 12 month low of $8.50 and a 12 month high of $20.76. The company has a market capitalization of $2.13 billion, a PE ratio of -40.30 and a beta of 2.16.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The business had revenue of $70.87 million for the quarter, compared to the consensus estimate of $61.03 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. Equities research analysts anticipate that Adaptive Biotechnologies will post -0.5 EPS for the current year.

Insider Transactions at Adaptive Biotechnologies

In other news, insider Sharon Benzeno sold 63,103 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $13.17, for a total value of $831,066.51. Following the completion of the transaction, the insider owned 272,751 shares of the company’s stock, valued at $3,592,130.67. This represents a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Chad M. Robins sold 470,167 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $13.17, for a total value of $6,192,099.39. Following the completion of the transaction, the chief executive officer directly owned 2,301,113 shares of the company’s stock, valued at approximately $30,305,658.21. This trade represents a 16.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,417,168 shares of company stock valued at $34,153,000. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in Adaptive Biotechnologies by 84.3% during the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after buying an additional 2,731,648 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Adaptive Biotechnologies by 303.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock valued at $71,252,000 after buying an additional 3,299,635 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Adaptive Biotechnologies during the fourth quarter valued at approximately $65,942,000. Geode Capital Management LLC boosted its stake in Adaptive Biotechnologies by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company’s stock valued at $57,041,000 after buying an additional 110,825 shares during the last quarter. Finally, State Street Corp boosted its stake in Adaptive Biotechnologies by 3.3% during the fourth quarter. State Street Corp now owns 3,181,644 shares of the company’s stock valued at $51,670,000 after buying an additional 102,362 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

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.