According to Zacks, “Adaptive Biotechnologies Corporation is a commercial-stage biotech company. It develops and commercializes immune-driven clinical products to transform the diagnosis and treatment of disease. The company’s product pipeline includes immunoSEQ, clonoSEQ and cellular therapy which are in clinical stage. Adaptive Biotechnologies Corporation is based in Seattle, Washington. “
Other equities analysts have also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of Adaptive Biotechnologies from $46.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $63.00 price target (down from $74.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, March 9th. Finally, BTIG Research raised their price objective on Adaptive Biotechnologies from $66.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, January 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.33.
Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, February 23rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.04). The business had revenue of $30.19 million during the quarter, compared to the consensus estimate of $27.08 million. Adaptive Biotechnologies had a negative net margin of 132.32% and a negative return on equity of 20.15%. As a group, equities analysts forecast that Adaptive Biotechnologies will post -1.08 EPS for the current year.
In other news, insider Harlan S. Robins sold 5,290 shares of the stock in a transaction dated Thursday, March 25th. The stock was sold at an average price of $38.30, for a total value of $202,607.00. Following the completion of the sale, the insider now owns 77,150 shares of the company’s stock, valued at $2,954,845. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Harlan S. Robins sold 7,790 shares of the firm’s stock in a transaction dated Wednesday, February 3rd. The stock was sold at an average price of $59.58, for a total value of $464,128.20. Following the transaction, the insider now owns 8,469 shares of the company’s stock, valued at $504,583.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 830,033 shares of company stock valued at $36,714,161. 22.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Schonfeld Strategic Advisors LLC increased its position in shares of Adaptive Biotechnologies by 137.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 50,000 shares of the company’s stock worth $2,432,000 after buying an additional 28,900 shares during the period. Brinker Capital Investments LLC acquired a new stake in Adaptive Biotechnologies during the 3rd quarter worth about $240,000. Sei Investments Co. grew its holdings in Adaptive Biotechnologies by 5.2% during the 3rd quarter. Sei Investments Co. now owns 119,731 shares of the company’s stock worth $5,833,000 after acquiring an additional 5,941 shares during the period. Strs Ohio raised its position in shares of Adaptive Biotechnologies by 41.1% in the 3rd quarter. Strs Ohio now owns 18,448 shares of the company’s stock worth $897,000 after acquiring an additional 5,375 shares in the last quarter. Finally, HM Payson & Co. acquired a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.
Adaptive Biotechnologies Company Profile
Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.
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