Adaptive Biotechnologies (NASDAQ:ADPT) Earns “Buy” Rating from BTIG Research

Adaptive Biotechnologies (NASDAQ:ADPT)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a research note issued on Wednesday,Benzinga reports. They currently have a $22.00 target price on the stock. BTIG Research’s target price points to a potential upside of 30.77% from the stock’s current price.

Other analysts also recently issued research reports about the company. Guggenheim reiterated a “buy” rating and set a $21.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. Morgan Stanley cut their price objective on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Wall Street Zen cut Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, JPMorgan Chase & Co. cut their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock traded down $0.40 on Wednesday, reaching $16.82. 5,452,779 shares of the company’s stock traded hands, compared to its average volume of 2,067,966. The business’s 50 day moving average price is $14.67 and its two-hundred day moving average price is $15.61. Adaptive Biotechnologies has a 12-month low of $9.96 and a 12-month high of $20.76. The company has a market capitalization of $2.69 billion, a P/E ratio of -50.98 and a beta of 2.16.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued 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. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The firm had revenue of $70.87 million for the quarter, compared to the consensus estimate of $61.03 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. Research analysts predict that Adaptive Biotechnologies will post -0.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Julie Rubinstein sold 19,037 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $14.23, for a total transaction of $270,896.51. Following the sale, the chief operating officer directly owned 377,802 shares in the company, valued at $5,376,122.46. This represents a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 5,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $19.00, for a total value of $95,000.00. Following the completion of the transaction, the insider owned 411,775 shares in the company, valued at $7,823,725. The trade was a 1.20% 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 483,534 shares of company stock valued at $7,097,885 in the last 90 days. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ADPT. Westfield Capital Management Co. LP acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at $65,942,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 purchasing an additional 3,299,635 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Adaptive Biotechnologies by 84.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after purchasing an additional 2,731,648 shares during the period. Invesco Ltd. lifted its stake in shares of Adaptive Biotechnologies by 248.8% in the 4th quarter. Invesco Ltd. now owns 3,107,653 shares of the company’s stock valued at $50,468,000 after purchasing an additional 2,216,595 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Adaptive Biotechnologies by 544.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company’s stock worth $36,523,000 after buying an additional 2,062,282 shares during the period. 99.17% of the stock is currently owned by 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.