Adaptive Biotechnologies Co. (NASDAQ:ADPT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.80.

Several analysts recently weighed in on ADPT shares. The Goldman Sachs Group reduced their price objective on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. reduced their price objective on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a research note on Thursday, February 15th. Finally, BTIG Research cut their price target on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $3.01 on Monday. The firm’s fifty day moving average price is $3.12 and its two-hundred day moving average price is $3.92. The stock has a market cap of $443.58 million, a PE ratio of -1.93 and a beta of 1.27. Adaptive Biotechnologies has a fifty-two week low of $2.28 and a fifty-two week high of $9.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Wednesday, February 14th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.02. The firm had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $50.15 million. Adaptive Biotechnologies had a negative net margin of 132.29% and a negative return on equity of 53.65%. As a group, sell-side analysts predict that Adaptive Biotechnologies will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Chad M. Robins sold 48,673 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $166,948.39. Following the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at $8,838,084.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kyle Piskel sold 7,727 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $26,503.61. Following the sale, the insider now owns 123,318 shares in the company, valued at approximately $422,980.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chad M. Robins sold 48,673 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $166,948.39. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $8,838,084.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,307 shares of company stock worth $428,090. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in Adaptive Biotechnologies by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 375,908 shares of the company’s stock valued at $2,049,000 after buying an additional 2,325 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Adaptive Biotechnologies by 6.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 55,264 shares of the company’s stock valued at $301,000 after buying an additional 3,498 shares during the last quarter. Victory Capital Management Inc. increased its stake in Adaptive Biotechnologies by 22.5% in the 4th quarter. Victory Capital Management Inc. now owns 19,087 shares of the company’s stock valued at $94,000 after buying an additional 3,509 shares during the last quarter. Swiss National Bank increased its stake in Adaptive Biotechnologies by 1.7% in the 3rd quarter. Swiss National Bank now owns 222,100 shares of the company’s stock valued at $1,210,000 after buying an additional 3,800 shares during the last quarter. Finally, Strs Ohio increased its stake in Adaptive Biotechnologies by 4.5% in the 4th quarter. Strs Ohio now owns 87,500 shares of the company’s stock valued at $428,000 after buying an additional 3,800 shares during the last quarter. Institutional investors and hedge funds own 99.17% 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 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.