Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Stock Has Consensus Target Price of $30.06 According to Analysts

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $30.06.

Several equities analysts have commented on the company. Piper Sandler upped their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Thursday, October 15th. BTIG Research boosted their price objective on Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. National Bank Financial set a $34.00 target price on Adaptive Biotechnologies in a research note on Tuesday, September 22nd. Finally, Guggenheim upped their target price on Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, October 1st.

Adaptive Biotechnologies Price Performance

ADPT opened at $27.98 on Friday. The firm has a market capitalization of $4.53 billion, a P/E ratio of -62.18 and a beta of 2.18. The stock has a fifty day moving average of $26.42 and a 200-day moving average of $19.86. The company has a quick ratio of 3.87, a current ratio of 3.97 and a debt-to-equity ratio of 1.82. Adaptive Biotechnologies has a 12-month low of $12.00 and a 12-month high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The firm had revenue of $83.90 million for the quarter, compared to the consensus estimate of $71.57 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. Equities analysts forecast that Adaptive Biotechnologies will post -0.40 EPS for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In other news, CEO Chad Robins sold 321,324 shares of Adaptive Biotechnologies stock in a transaction on Monday, August 17th. The stock was sold at an average price of $25.08, for a total value of $8,058,805.92. Following the completion of the sale, the chief executive officer directly owned 2,180,518 shares of the company’s stock, valued at approximately $54,687,391.44. This trade represents a 12.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Francis Lo sold 115,406 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $28.06, for a total transaction of $3,238,292.36. Following the sale, the insider directly owned 220,867 shares of the company’s stock, valued at approximately $6,197,528.02. This trade represents a 34.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,059,644 shares of company stock valued at $27,046,836 in the last three months. 5.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ADPT. BlackRock Inc. acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $324,735,000. Wellington Management Group LLP lifted its holdings in shares of Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock worth $126,799,000 after buying an additional 2,053,944 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth $37,109,000. Principal Financial Group Inc. lifted its holdings in shares of Adaptive Biotechnologies by 9.8% during the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock worth $23,664,000 after buying an additional 152,378 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $18,912,000. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development.

Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.