Brokerages Set Adaptive Biotechnologies Co. (NASDAQ:ADPT) Target Price at $6.80

Adaptive Biotechnologies Co. (NASDAQ:ADPT) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.80.

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

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT opened at $3.01 on Monday. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $9.08. The firm has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $3.92. The company has a market cap of $443.58 million, a P/E ratio of -1.93 and a beta of 1.27.

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

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 48,673 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $166,948.39. Following the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $8,838,084.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 48,673 shares of the 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 completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stacy L. Taylor sold 13,381 shares of the firm’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 $45,896.83. Following the completion of the sale, the senior vice president now owns 166,287 shares in the company, valued at $570,364.41. The disclosure for this sale can be found here. Insiders have sold a total of 124,307 shares of company stock valued at $428,090 over the last ninety days. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors have recently added to or reduced their stakes in ADPT. Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 2,325 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Adaptive Biotechnologies by 6.8% in the third quarter. Commonwealth Equity Services LLC now owns 55,264 shares of the company’s stock worth $301,000 after buying an additional 3,498 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Adaptive Biotechnologies by 22.5% during the fourth quarter. Victory Capital Management Inc. now owns 19,087 shares of the company’s stock worth $94,000 after buying an additional 3,509 shares during the period. Swiss National Bank grew its holdings in shares of Adaptive Biotechnologies by 1.7% during the third 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 position in shares of 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 acquiring an additional 3,800 shares during the period. 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.