Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 8.1% – Here’s What Happened

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares were up 8.1% on Thursday . The company traded as high as $16.92 and last traded at $17.2810. Approximately 161,415 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,897,089 shares. The stock had previously closed at $15.99.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ADPT shares. Guggenheim restated a “buy” rating and issued a $21.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Morgan Stanley reduced their price target on shares of 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. JPMorgan Chase & Co. reduced their price target on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Finally, Wall Street Zen downgraded shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.57.

Adaptive Biotechnologies Trading Down 6.5%

The firm’s 50-day moving average is $14.17 and its 200 day moving average is $15.61. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -51.21 and a beta of 2.15.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate 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 business had revenue of $70.87 million for the quarter, compared to the consensus estimate of $61.03 million. During the same period last year, the company earned ($0.20) EPS. The firm’s revenue was up 35.1% compared to the same quarter last year. Analysts predict that Adaptive Biotechnologies Corporation will post -0.48 EPS for the current year.

Insider Buying and Selling

In related news, COO Julie Rubinstein sold 19,037 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $14.23, for a total transaction of $270,896.51. Following the sale, the chief operating officer directly owned 377,802 shares in the company, valued at $5,376,122.46. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Chad M. Robins sold 37,263 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $15.19, for a total transaction of $566,024.97. Following the transaction, the chief executive officer owned 2,180,518 shares of the company’s stock, valued at approximately $33,122,068.42. The trade was a 1.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,771,096 shares of company stock worth $23,926,217 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Perceptive Advisors LLC bought a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $2,117,000. Bank of America Corp DE raised its holdings in Adaptive Biotechnologies by 52.3% during the 1st quarter. Bank of America Corp DE now owns 1,227,917 shares of the company’s stock worth $17,043,000 after purchasing an additional 421,645 shares during the last quarter. Amundi bought a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $148,000. California State Teachers Retirement System raised its holdings in Adaptive Biotechnologies by 28.4% during the 1st quarter. California State Teachers Retirement System now owns 143,658 shares of the company’s stock worth $1,994,000 after purchasing an additional 31,782 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $4,409,000. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.