Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.5714.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and issued a $22.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Guggenheim reaffirmed a “buy” rating and issued a $21.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Finally, Morgan Stanley cut their price target on shares of 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.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, insider Francis Lo sold 39,741 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $17.49, for a total value of $695,070.09. Following the sale, the insider owned 250,934 shares of the company’s stock, valued at $4,388,835.66. The trade was a 13.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Piskel sold 3,115 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $13.04, for a total transaction of $40,619.60. Following the completion of the sale, the chief financial officer directly owned 256,725 shares in the company, valued at approximately $3,347,694. This represents a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 502,594 shares of company stock worth $7,349,096. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in shares of Adaptive Biotechnologies by 1.0% in the second quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock worth $1,145,000 after purchasing an additional 933 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Adaptive Biotechnologies by 6.8% during the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock worth $205,000 after acquiring an additional 941 shares in the last quarter. Captrust Financial Advisors raised its position in Adaptive Biotechnologies by 7.6% during the second quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock worth $184,000 after acquiring an additional 1,119 shares in the last quarter. Arizona State Retirement System raised its position in Adaptive Biotechnologies by 3.7% during the third quarter. Arizona State Retirement System now owns 31,443 shares of the company’s stock worth $470,000 after acquiring an additional 1,120 shares in the last quarter. Finally, Assetmark Inc. raised its position in Adaptive Biotechnologies by 46.4% during the first quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock worth $61,000 after acquiring an additional 1,401 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT opened at $17.46 on Tuesday. The stock has a market cap of $2.79 billion, a P/E ratio of -52.91 and a beta of 2.16. The firm has a 50 day moving average price of $14.62 and a 200 day moving average price of $15.63. Adaptive Biotechnologies has a 52-week low of $9.96 and a 52-week high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $70.87 million during the quarter, compared to analysts’ expectations of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.20) earnings per share. Analysts predict that Adaptive Biotechnologies will post -0.47 earnings per share for the current fiscal year.

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.