Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 52-Week High – Should You Buy?

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) hit a new 52-week high during trading on Friday . The stock traded as high as $18.58 and last traded at $18.67, with a volume of 3020892 shares. The stock had previously closed at $16.32.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Adaptive Biotechnologies from $11.00 to $16.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Guggenheim began coverage on Adaptive Biotechnologies in a report on Tuesday, September 30th. They set a “buy” rating and a $20.00 price target for the company. Piper Sandler upped their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Finally, TD Cowen boosted their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and an average target price of $16.56.

Adaptive Biotechnologies Stock Performance

The company has a fifty day simple moving average of $15.29 and a two-hundred day simple moving average of $12.55. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -22.69 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The company had revenue of $93.97 million for the quarter, compared to analysts’ expectations of $58.76 million. During the same quarter last year, the business earned ($0.22) earnings per share. Adaptive Biotechnologies’s revenue was up 102.4% on a year-over-year basis. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 86,161 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $14.73, for a total transaction of $1,269,151.53. Following the completion of the transaction, the chief executive officer directly owned 2,873,088 shares in the company, valued at $42,320,586.24. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harlan S. Robins sold 10,000 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $14.82, for a total value of $148,200.00. Following the completion of the sale, the insider directly owned 1,269,524 shares in the company, valued at approximately $18,814,345.68. This represents a 0.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 99,503 shares of company stock valued at $1,466,724 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently modified their holdings of the business. Diversified Trust Co bought a new position in shares of Adaptive Biotechnologies in the second quarter worth about $438,000. Hillsdale Investment Management Inc. bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at approximately $6,618,000. Russell Investments Group Ltd. lifted its stake in Adaptive Biotechnologies by 104.7% in the 1st quarter. Russell Investments Group Ltd. now owns 165,831 shares of the company’s stock valued at $1,232,000 after purchasing an additional 84,837 shares during the last quarter. Invesco Ltd. boosted its position in Adaptive Biotechnologies by 218.3% in the first quarter. Invesco Ltd. now owns 552,531 shares of the company’s stock valued at $4,105,000 after buying an additional 378,940 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in shares of Adaptive Biotechnologies during the first quarter worth $84,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.