Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 52-Week High – Here’s What Happened

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $24.62 and last traded at $24.55, with a volume of 3291444 shares. The stock had previously closed at $23.11.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ADPT shares. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. BTIG Research increased their price objective on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Guggenheim raised their target price on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. decreased their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Finally, TD Cowen upped their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average target price of $24.42.

Adaptive Biotechnologies Trading Up 6.2%

The firm has a 50-day moving average of $19.82 and a 200 day moving average of $16.73. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -59.88 and a beta of 2.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. During the same quarter last year, the firm posted ($0.17) EPS. The company’s revenue was up 21.5% compared to the same quarter last year. As a group, equities analysts predict that Adaptive Biotechnologies Corporation will post -0.41 EPS for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Francis Lo sold 44,838 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $22.59, for a total transaction of $1,012,890.42. Following the transaction, the insider owned 230,713 shares of the company’s stock, valued at approximately $5,211,806.67. This trade represents a 16.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 1,299 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $24.00, for a total transaction of $31,176.00. Following the sale, the insider owned 399,989 shares in the company, valued at $9,599,736. This trade represents a 0.32% 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 1,307,086 shares of company stock valued at $27,859,739 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ADPT. Caitong International Asset Management Co. Ltd acquired a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its position in Adaptive Biotechnologies by 197.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after purchasing an additional 1,565 shares during the period. KBC Group NV bought a new position in Adaptive Biotechnologies during the 1st quarter valued at $45,000. Assetmark Inc. boosted its stake in Adaptive Biotechnologies by 867.9% during 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 in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $51,000. 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.