JPMorgan Chase & Co. Cuts Adaptive Biotechnologies (NASDAQ:ADPT) Price Target to $19.00

Adaptive Biotechnologies (NASDAQ:ADPT) had its price objective lowered by JPMorgan Chase & Co. from $21.00 to $19.00 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ADPT has been the topic of several other research reports. Piper Sandler set a $21.00 target price on shares of Adaptive Biotechnologies in a research note on Friday, February 6th. Wall Street Zen downgraded Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. Guggenheim reaffirmed a “buy” rating and issued a $21.00 target price on shares of Adaptive Biotechnologies in a report on Wednesday. Finally, BTIG Research restated a “buy” rating and set a $22.00 price objective on shares of Adaptive Biotechnologies in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Adaptive Biotechnologies Trading Down 6.0%

Shares of NASDAQ:ADPT opened at $13.81 on Wednesday. The stock has a market capitalization of $2.21 billion, a P/E ratio of -41.85 and a beta of 2.16. Adaptive Biotechnologies has a 12-month low of $8.50 and a 12-month high of $20.76. The stock’s 50-day moving average price is $14.27 and its 200-day moving average price is $15.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The business had revenue of $70.87 million during the quarter, compared to analyst estimates of $61.03 million. During the same quarter in the prior year, the company posted ($0.20) EPS. Adaptive Biotechnologies’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, research analysts predict that Adaptive Biotechnologies will post -0.5 EPS for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, insider Sharon Benzeno sold 63,103 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $13.17, for a total transaction of $831,066.51. Following the completion of the sale, the insider owned 272,751 shares in the company, valued at approximately $3,592,130.67. This represents a 18.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Julie Rubinstein sold 141,583 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $13.29, for a total transaction of $1,881,638.07. Following the completion of the transaction, the chief operating officer directly owned 516,610 shares of the company’s stock, valued at $6,865,746.90. The trade was a 21.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,417,168 shares of company stock valued at $34,153,000. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in Adaptive Biotechnologies by 84.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock worth $89,337,000 after purchasing an additional 2,731,648 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Adaptive Biotechnologies by 303.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock valued at $71,252,000 after buying an additional 3,299,635 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Adaptive Biotechnologies during the 4th quarter worth about $65,942,000. Geode Capital Management LLC grew its stake in shares of Adaptive Biotechnologies by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company’s stock worth $57,041,000 after purchasing an additional 110,825 shares in the last quarter. Finally, State Street Corp increased its holdings in Adaptive Biotechnologies by 3.3% in the fourth quarter. State Street Corp now owns 3,181,644 shares of the company’s stock valued at $51,670,000 after buying an additional 102,362 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.