Adaptive Biotechnologies (NASDAQ:ADPT) Shares Gap Up – What’s Next?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) gapped up before the market opened on Friday . The stock had previously closed at $18.73, but opened at $19.53. Adaptive Biotechnologies shares last traded at $18.0950, with a volume of 745,246 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price objective on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. BTIG Research reiterated a “buy” rating and issued a $22.00 price objective on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. TD Cowen increased their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Six research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Adaptive Biotechnologies Stock Down 4.6%

The firm has a 50-day simple moving average of $14.50 and a 200 day simple moving average of $15.67. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -54.14 and a beta of 2.15.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its 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. The business had revenue of $70.87 million for the quarter, compared to analysts’ expectations of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The company’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) EPS. As a group, research analysts expect that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Insider Activity

In other news, CEO Chad M. Robins sold 83,332 shares of Adaptive Biotechnologies stock in a transaction on Monday, April 6th. The shares were sold at an average price of $14.41, for a total value of $1,200,814.12. Following the transaction, the chief executive officer directly owned 2,217,781 shares of the company’s stock, valued at $31,958,224.21. The trade was a 3.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Julie Rubinstein sold 30,941 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $14.83, for a total value of $458,855.03. Following the completion of the transaction, the chief operating officer owned 434,188 shares in the company, valued at $6,439,008.04. This trade represents a 6.65% 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 have sold 516,654 shares of company stock valued at $7,509,691 in the last ninety days. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after purchasing an additional 1,565 shares during the last quarter. Assetmark Inc. grew its stake in shares of Adaptive Biotechnologies by 867.9% in the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock valued at $49,000 after purchasing an additional 2,708 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at approximately $51,000. Finally, Strive Financial Group LLC purchased a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at approximately $52,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

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.