Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.3750.

ADPT has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. TD Cowen boosted their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Craig Hallum started coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 18th. They set a “buy” rating and a $15.00 target price on the stock. Morgan Stanley boosted their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Finally, Piper Sandler boosted their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th.

Adaptive Biotechnologies Stock Up 4.2%

Shares of ADPT stock opened at $12.66 on Wednesday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -15.44 and a beta of 1.92. Adaptive Biotechnologies has a fifty-two week low of $3.98 and a fifty-two week high of $12.93. The firm’s 50 day moving average price is $11.03 and its two-hundred day moving average price is $9.15.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. The firm had revenue of $49.94 million for the quarter, compared to analysts’ expectations of $49.40 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. Adaptive Biotechnologies’s revenue was up 36.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) earnings per share. On average, equities analysts forecast that Adaptive Biotechnologies will post -0.92 EPS for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors have recently added to or reduced their stakes in ADPT. Bridgefront Capital LLC acquired a new stake in Adaptive Biotechnologies in the fourth quarter valued at $80,000. Personal CFO Solutions LLC acquired a new stake in Adaptive Biotechnologies in the first quarter valued at $84,000. Blair William & Co. IL acquired a new stake in Adaptive Biotechnologies in the first quarter valued at $84,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Adaptive Biotechnologies in the first quarter valued at $87,000. Finally, Candriam S.C.A. acquired a new stake in Adaptive Biotechnologies in the first quarter valued at $90,000. 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.