Adaptive Biotechnologies (NASDAQ:ADPT) Trading 8.4% Higher – Should You Buy?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares shot up 8.4% during trading on Wednesday . The company traded as high as $18.65 and last traded at $18.6750. Approximately 536,130 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 2,144,357 shares. The stock had previously closed at $17.23.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ADPT shares. JPMorgan Chase & Co. lowered their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley cut their price target on 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. Guggenheim reiterated a “buy” rating and issued a $21.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. Wall Street Zen lowered Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, TD Cowen lifted their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.33.

Adaptive Biotechnologies Stock Up 8.8%

The company’s fifty day moving average is $15.02 and its two-hundred day moving average is $15.56. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -56.73 and a beta of 2.15.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced 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. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The firm had revenue of $70.87 million for the quarter, compared to analysts’ expectations of $61.03 million. During the same period last year, the firm earned ($0.20) earnings per share. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, equities research analysts expect that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Insider Buying and Selling

In other news, COO Julie Rubinstein sold 30,941 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $14.83, for a total value of $458,855.03. Following the transaction, the chief operating officer directly owned 434,188 shares in the company, valued at $6,439,008.04. This trade represents a 6.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 39,741 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $17.49, for a total value of $695,070.09. Following the completion of the transaction, the insider owned 250,934 shares in the company, valued at $4,388,835.66. This represents a 13.67% decrease in their ownership of the stock. 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 sold 551,574 shares of company stock worth $8,427,395. Company insiders own 5.70% of the company’s stock.

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 stock. Ameriprise Financial Inc. grew its position in shares of Adaptive Biotechnologies by 84.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after purchasing an additional 2,731,648 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Adaptive Biotechnologies by 303.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock worth $71,252,000 after buying an additional 3,299,635 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth approximately $65,942,000. Geode Capital Management LLC lifted its stake in Adaptive Biotechnologies by 3.3% in 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 in the last quarter. Finally, State Street Corp lifted its stake in Adaptive Biotechnologies by 3.3% in 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 in the last quarter. Institutional investors own 99.17% of the company’s stock.

About Adaptive Biotechnologies

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.