Adaptive Biotechnologies (NASDAQ:ADPT) Shares Down 5.6%

Adaptive Biotechnologies Co. (NASDAQ:ADPTGet Free Report) shares traded down 5.6% during trading on Friday . The company traded as low as $3.68 and last traded at $3.68. 197,363 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,590,608 shares. The stock had previously closed at $3.90.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target 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. BTIG Research dropped their price objective on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, The Goldman Sachs Group dropped their price objective on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.80.

Read Our Latest Report on Adaptive Biotechnologies

Adaptive Biotechnologies Stock Down 2.3 %

The stock has a market cap of $561.48 million, a price-to-earnings ratio of -2.46 and a beta of 1.34. The company has a 50 day simple moving average of $3.13 and a 200-day simple moving average of $3.79.

Adaptive Biotechnologies (NASDAQ:ADPTGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.02. Adaptive Biotechnologies had a negative return on equity of 56.58% and a negative net margin of 123.24%. The firm had revenue of $41.87 million for the quarter, compared to analyst estimates of $38.78 million. During the same period last year, the company earned ($0.40) earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Adaptive Biotechnologies Co. will post -1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently bought and sold shares of ADPT. Manchester Capital Management LLC bought a new stake in Adaptive Biotechnologies in the first quarter worth approximately $32,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Adaptive Biotechnologies during the 1st quarter valued at $46,000. First Trust Direct Indexing L.P. bought a new stake in Adaptive Biotechnologies in the 1st quarter valued at $47,000. Personal CFO Solutions LLC bought a new stake in Adaptive Biotechnologies in the 4th quarter valued at $55,000. Finally, AXQ Capital LP bought a new stake in Adaptive Biotechnologies in the 3rd quarter valued at $58,000. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Company Profile

(Get Free Report)

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.

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