Adaptive Biotechnologies (NASDAQ:ADPT) Shares Up 6.3% – Still a Buy?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s stock price rose 6.3% on Wednesday . The company traded as high as $14.90 and last traded at $14.6210. Approximately 483,596 shares traded hands during trading, a decline of 76% from the average daily volume of 1,985,531 shares. The stock had previously closed at $13.75.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. TD Cowen lifted their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Guggenheim started coverage on Adaptive Biotechnologies in a research report on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, BTIG Research lifted their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.56.

Adaptive Biotechnologies Price Performance

The business has a 50 day simple moving average of $15.17 and a 200 day simple moving average of $12.47. The stock has a market cap of $2.84 billion, a PE ratio of -22.69 and a beta of 2.09.

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

Insider Buying and Selling

In related news, CEO Chad M. Robins sold 1,867 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $15.00, for a total value of $28,005.00. Following the completion of the sale, the chief executive officer owned 2,869,975 shares of the company’s stock, valued at approximately $43,049,625. The trade was a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Harlan S. Robins sold 10,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $14.82, for a total transaction of $148,200.00. Following the transaction, the insider directly owned 1,269,524 shares in the company, valued at $18,814,345.68. The trade was a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 99,503 shares of company stock valued at $1,466,724 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently made changes to their positions in ADPT. Sound Income Strategies LLC bought a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at approximately $30,000. Smartleaf Asset Management LLC grew its holdings in Adaptive Biotechnologies by 593.5% during the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after purchasing an additional 3,371 shares during the last quarter. Blair William & Co. IL acquired a new position in Adaptive Biotechnologies during the first quarter valued at approximately $84,000. Candriam S.C.A. bought a new position in shares of Adaptive Biotechnologies in the first quarter valued at approximately $90,000. Finally, Caxton Associates LLP acquired a new stake in shares of Adaptive Biotechnologies in the first quarter worth $93,000. Institutional investors 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.