Adaptive Biotechnologies (NASDAQ:ADPT) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Adaptive Biotechnologies (NASDAQ:ADPT) in a research report report published on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $35.00 target price on the stock.

A number of other brokerages have also recently commented on ADPT. Guggenheim raised their target price on Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 30th. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. National Bank Financial set a $34.00 price objective on shares of Adaptive Biotechnologies in a report on Tuesday, September 22nd. Piper Sandler upped their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, TD Cowen increased their target price on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.94.

Adaptive Biotechnologies Stock Down 5.3%

NASDAQ:ADPT opened at $27.37 on Tuesday. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The stock’s fifty day moving average is $25.51 and its two-hundred day moving average is $19.53. Adaptive Biotechnologies has a 52 week low of $12.00 and a 52 week high of $29.96. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -66.76 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The firm had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $65.44 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Research analysts anticipate that Adaptive Biotechnologies will post -0.4 EPS for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, CEO Chad Robins sold 278,676 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $24.48, for a total value of $6,821,988.48. Following the completion of the sale, the chief executive officer directly owned 2,180,518 shares of the company’s stock, valued at $53,379,080.64. This represents a 11.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Hershberg sold 30,664 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $24.40, for a total value of $748,201.60. Following the transaction, the director owned 46,683 shares in the company, valued at $1,139,065.20. This represents a 39.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,368,654 shares of company stock valued at $32,920,319. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in Adaptive Biotechnologies by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 31,866 shares of the company’s stock valued at $684,000 after buying an additional 416 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Adaptive Biotechnologies by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock worth $205,000 after buying an additional 941 shares during the last quarter. Assetmark Inc. raised its position in Adaptive Biotechnologies by 46.4% during the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock worth $61,000 after buying an additional 1,401 shares during the last quarter. Nykredit A S purchased a new position in Adaptive Biotechnologies during the 2nd quarter worth $31,000. Finally, EverSource Wealth Advisors LLC lifted 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 worth $38,000 after acquiring an additional 1,565 shares during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.

The company’s product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.