Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 4.4% – Should You Buy?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s share price shot up 4.4% on Thursday. The stock traded as high as $29.10 and last traded at $29.1230. 282,467 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 2,287,464 shares. The stock had previously closed at $27.89.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Piper Sandler raised their price objective on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Finally, TD Cowen lifted their price objective on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.07.

Adaptive Biotechnologies Trading Down 0.5%

The company has a market cap of $4.70 billion, a PE ratio of -71.78 and a beta of 2.09. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The company has a 50 day simple moving average of $25.01 and a two-hundred day simple moving average of $19.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The company had revenue of $71.55 million during the quarter, compared to analysts’ expectations of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.Adaptive Biotechnologies’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. Sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current year.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, Director Peter Neupert sold 124,690 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $25.15, for a total value of $3,135,953.50. Following the completion of the sale, the director owned 130,625 shares in the company, valued at $3,285,218.75. This represents a 48.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Francis Lo sold 115,406 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $28.06, for a total transaction of $3,238,292.36. Following the sale, the insider directly owned 220,867 shares of the company’s stock, valued at $6,197,528.02. This trade represents a 34.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 2,005,991 shares of company stock worth $46,861,901. 5.70% of the stock is owned by company insiders.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new position in Adaptive Biotechnologies in the 2nd quarter worth about $855,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $46,000. Arizona State Retirement System lifted its holdings in shares of Adaptive Biotechnologies by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 31,866 shares of the company’s stock valued at $684,000 after buying an additional 416 shares during the last quarter. Nykredit A S acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at approximately $754,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corp. (NASDAQ: ADPT) is a biotechnology company focused on applying immune-system data to the diagnosis and treatment of disease. The company develops technologies that decode T-cell and B-cell receptors, helping researchers and clinicians analyze the adaptive immune response at the scale of individual immune cells.

Its key products include clonoSEQ, a clinical diagnostic test that measures minimal residual disease in certain blood cancers, including multiple myeloma and acute lymphoblastic leukemia.