Adaptive Biotechnologies Co. (NASDAQ:ADPT) Receives $6.80 Average Price Target from Brokerages

Adaptive Biotechnologies Co. (NASDAQ:ADPTGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $6.80.

Separately, BTIG Research reduced their target price on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, April 4th.

Check Out Our Latest Stock Report on ADPT

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently modified their holdings of ADPT. Barclays PLC raised its stake in shares of Adaptive Biotechnologies by 8.9% during the 3rd quarter. Barclays PLC now owns 136,021 shares of the company’s stock valued at $741,000 after buying an additional 11,112 shares during the last quarter. Swiss National Bank increased its stake in shares of 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 purchasing an additional 3,800 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Adaptive Biotechnologies by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,067 shares of the company’s stock valued at $4,682,000 after purchasing an additional 21,177 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Adaptive Biotechnologies by 133.0% in the 3rd quarter. Nordea Investment Management AB now owns 894,071 shares of the company’s stock valued at $5,025,000 after purchasing an additional 510,292 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Adaptive Biotechnologies by 46.9% in the 3rd quarter. Hsbc Holdings PLC now owns 37,039 shares of the company’s stock valued at $201,000 after purchasing an additional 11,817 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $3.29 on Tuesday. The firm has a market capitalization of $484.85 million, a price-to-earnings ratio of -2.21 and a beta of 1.34. The business has a fifty day moving average of $3.23 and a 200 day moving average of $3.69. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $8.51.

Adaptive Biotechnologies (NASDAQ:ADPTGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.02. The company had revenue of $41.87 million during the quarter, compared to analyst estimates of $38.78 million. Adaptive Biotechnologies had a negative return on equity of 56.58% and a negative net margin of 123.24%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.40) EPS. As a group, equities research analysts expect that Adaptive Biotechnologies will post -1.29 earnings per share for the current year.

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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Analyst Recommendations for Adaptive Biotechnologies (NASDAQ:ADPT)

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