Adaptive Biotechnologies (NASDAQ:ADPT) Reaches New 12-Month High – Here’s What Happened

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.49 and last traded at $26.2190, with a volume of 196608 shares changing hands. The stock had previously closed at $25.55.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADPT shares. Guggenheim raised their price objective on Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. BTIG Research boosted their price objective on Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Piper Sandler raised their target price on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Finally, TD Cowen increased their price objective on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Five equities 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 stock. According to MarketBeat, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and a consensus target price of $24.42.

Adaptive Biotechnologies Trading Up 3.0%

The firm has a market cap of $4.20 billion, a P/E ratio of -64.16 and a beta of 2.08. The company’s fifty day moving average price is $22.22 and its two-hundred day moving average price is $17.39. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share 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 the consensus estimate of $65.44 million. During the same period in the prior year, the company posted ($0.17) earnings per share. Adaptive Biotechnologies’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts predict that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Francis Lo sold 51,004 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.45, for a total transaction of $1,145,039.80. Following the transaction, the insider owned 237,688 shares in the company, valued at $5,336,095.60. This represents a 17.67% decrease in their position. The sale was disclosed in a 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 Sharon Benzeno sold 154,768 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the completion of the sale, the insider owned 221,278 shares of the company’s stock, valued at $4,677,816.92. The trade was a 41.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,062,325 shares of company stock valued at $46,659,069 over the last three months. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently made changes to their positions in ADPT. Nykredit A S acquired a new position in Adaptive Biotechnologies in the second quarter valued at about $31,000. Allworth Financial LP acquired a new position in Adaptive Biotechnologies during the second quarter worth $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC grew 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 valued at $38,000 after purchasing an additional 1,565 shares in the last quarter. Finally, Assetmark Inc. grew its position in Adaptive Biotechnologies by 867.9% in the fourth 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. 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.