BTIG Research Reiterates Buy Rating for Adaptive Biotechnologies (NASDAQ:ADPT)

Adaptive Biotechnologies (NASDAQ:ADPT)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. BTIG Research’s price objective points to a potential upside of 59.65% from the stock’s previous close.

Several other research analysts also recently commented on ADPT. Guggenheim lifted their target price on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. TD Cowen reaffirmed a “buy” rating on shares of Adaptive Biotechnologies in a research note on Friday, February 6th. Wall Street Zen downgraded shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. upped their target price on Adaptive Biotechnologies from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Piper Sandler set a $21.00 price objective on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.43.

Adaptive Biotechnologies Stock Down 5.0%

Shares of NASDAQ ADPT opened at $13.78 on Wednesday. Adaptive Biotechnologies has a 52 week low of $8.38 and a 52 week high of $20.76. The firm’s fifty day moving average is $14.32 and its 200 day moving average is $15.92. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -34.45 and a beta of 2.16.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued 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 net margin of 21.48% and a negative return on equity of 46.68%. The company 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 firm earned ($0.20) earnings per share. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. Equities research analysts anticipate that Adaptive Biotechnologies will post -0.5 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Julie Rubinstein sold 141,583 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were 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 in the company, valued at $6,865,746.90. The trade was a 21.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sharon Benzeno sold 63,103 shares of the business’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 directly owned 272,751 shares of the company’s stock, valued at approximately $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 2,417,168 shares of company stock worth $34,153,000 over the last quarter. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. lifted its position in Adaptive Biotechnologies by 1.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 625,217 shares of the company’s stock valued at $8,678,000 after acquiring an additional 8,267 shares in the last quarter. Principal Financial Group Inc. lifted its position in Adaptive Biotechnologies by 9.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock valued at $23,664,000 after acquiring an additional 152,378 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in Adaptive Biotechnologies by 12.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 16,541 shares of the company’s stock valued at $230,000 after acquiring an additional 1,800 shares in the last quarter. Granite Investment Partners LLC bought a new position in Adaptive Biotechnologies in the 1st quarter valued at approximately $6,941,000. Finally, Personal CFO Solutions LLC bought a new position in Adaptive Biotechnologies in the 1st quarter valued at approximately $157,000. 99.17% of the stock is currently 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.