Adaptive Biotechnologies (NASDAQ:ADPT) Shares Down 6.7% – What’s Next?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares traded down 6.7% during mid-day trading on Friday . The stock traded as low as $13.06 and last traded at $13.03. 512,066 shares were traded during trading, a decline of 74% from the average session volume of 1,984,443 shares. The stock had previously closed at $13.96.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADPT shares. JPMorgan Chase & Co. boosted their price objective on Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Guggenheim lifted their target price on Adaptive Biotechnologies from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Morgan Stanley initiated coverage on Adaptive Biotechnologies in a research report on Monday, December 1st. They set an “equal weight” rating and a $21.00 price target for the company. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Piper Sandler set a $21.00 target price on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

Adaptive Biotechnologies Price Performance

The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -31.04 and a beta of 2.19. The stock’s fifty day moving average price is $15.95 and its 200-day moving average price is $15.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. Adaptive Biotechnologies had a negative net margin of 21.48% and a negative return on equity of 46.68%. The business had revenue of $71.68 million during the quarter, compared to analyst estimates of $59.38 million. During the same period in the prior year, the firm earned ($0.23) earnings per share. The firm’s revenue was up 51.0% compared to the same quarter last year. As a group, equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Insider Activity

In related news, CFO Kyle Piskel sold 18,672 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $13.17, for a total value of $245,910.24. Following the transaction, the chief financial officer owned 259,840 shares in the company, valued at $3,422,092.80. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sharon Benzeno sold 63,103 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $13.17, for a total value of $831,066.51. Following the sale, the insider owned 272,751 shares of the company’s stock, valued at approximately $3,592,130.67. The trade was a 18.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,422,544 shares of company stock valued at $35,397,620. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of Adaptive Biotechnologies by 45.8% in the 1st quarter. AQR Capital Management LLC now owns 310,272 shares of the company’s stock worth $2,265,000 after purchasing an additional 97,444 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 worth $511,000 after buying an additional 2,914 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Adaptive Biotechnologies during the first quarter worth approximately $93,000. Geode Capital Management LLC increased its holdings in shares of Adaptive Biotechnologies by 15.6% during the second quarter. Geode Capital Management LLC now owns 3,215,171 shares of the company’s stock worth $37,461,000 after buying an additional 434,347 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Adaptive Biotechnologies by 53.2% in the second quarter. SG Americas Securities LLC now owns 37,328 shares of the company’s stock valued at $435,000 after acquiring an additional 12,963 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

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.