Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 8.4% – What’s Next?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares were up 8.4% on Wednesday . The company traded as high as $18.65 and last traded at $18.6750. 536,130 shares changed hands during trading, a decline of 75% from the average session volume of 2,144,357 shares. The stock had previously closed at $17.23.

Analyst Ratings Changes

ADPT has been the topic of several recent research reports. BTIG Research reaffirmed a “buy” rating and set a $22.00 price objective on shares of Adaptive Biotechnologies in a research report on Wednesday, June 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. JPMorgan Chase & Co. dropped their price target on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, TD Cowen increased their target price on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Five 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’s stock. Based on data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Adaptive Biotechnologies Stock Performance

The firm’s 50-day simple moving average is $15.02 and its 200-day simple moving average is $15.56. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -56.73 and a beta of 2.15.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $70.87 million during the quarter, compared to the consensus estimate of $61.03 million. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The company’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) EPS. Equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 3,115 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $13.04, for a total value of $40,619.60. Following the transaction, the chief financial officer owned 256,725 shares of the company’s stock, valued at approximately $3,347,694. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Harlan S. Robins sold 6,160 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $18.01, for a total value of $110,941.60. Following the sale, the insider owned 1,405,898 shares in the company, valued at $25,320,222.98. The trade was a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 551,574 shares of company stock worth $8,427,395 over the last 90 days. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently added to or reduced their stakes in ADPT. AQR Capital Management LLC raised its stake in shares of Adaptive Biotechnologies by 45.8% in the first quarter. AQR Capital Management LLC now owns 310,272 shares of the company’s stock worth $2,265,000 after acquiring an additional 97,444 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Adaptive Biotechnologies by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock valued at $511,000 after purchasing an additional 2,914 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Adaptive Biotechnologies during the first quarter valued at approximately $93,000. New York State Common Retirement Fund increased its holdings in shares of Adaptive Biotechnologies by 39.2% in the second quarter. New York State Common Retirement Fund now owns 47,258 shares of the company’s stock valued at $551,000 after purchasing an additional 13,300 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Adaptive Biotechnologies by 728.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 379,120 shares of the company’s stock valued at $4,417,000 after purchasing an additional 333,379 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.