Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Expected to Rise, Scotiabank Analyst Says

Adaptive Biotechnologies (NASDAQ:ADPT) had its price target increased by research analysts at Scotiabank from $10.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 44.06% from the company’s current price.

A number of other research analysts have also weighed in on the company. Piper Sandler boosted their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, BTIG Research boosted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

Adaptive Biotechnologies Stock Down 2.2 %

Shares of Adaptive Biotechnologies stock opened at $8.33 on Thursday. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $8.74. The stock has a market cap of $1.23 billion, a P/E ratio of -6.22 and a beta of 1.50. The business’s 50 day moving average is $7.01 and its 200-day moving average is $5.64.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 62.06% and a negative net margin of 110.13%. During the same quarter in the previous year, the company posted ($0.30) EPS. On average, sell-side analysts expect that Adaptive Biotechnologies will post -1.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd acquired a new position in Adaptive Biotechnologies in the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in Adaptive Biotechnologies in the 3rd quarter valued at $34,000. KBC Group NV bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $50,000. GAMMA Investing LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $59,000. Finally, Cibc World Markets Corp bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $65,000. 99.17% of the stock is owned by institutional investors and hedge funds.

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.