Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Stock Has Consensus Price Target of $30.06

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $30.31.

A number of research firms have commented on ADPT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. Piper Sandler boosted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Morgan Stanley upped their price objective on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, October 12th. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Finally, TD Cowen increased their price objective on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 11,881 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $30.12, for a total transaction of $357,855.72. Following the transaction, the chief operating officer owned 377,802 shares in the company, valued at approximately $11,379,396.24. This represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,071,525 shares of company stock worth $27,404,692. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nykredit A S purchased a new stake in shares of Adaptive Biotechnologies during the second quarter valued at $31,000. Allworth Financial LP purchased a new position in Adaptive Biotechnologies in the 2nd quarter worth $35,000. Integrated Wealth Concepts LLC purchased a new position in Adaptive Biotechnologies in the 2nd quarter worth $46,000. KBC Group NV purchased a new position in Adaptive Biotechnologies in the 1st quarter worth $45,000. Finally, Assetmark Inc. lifted 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 acquiring an additional 1,401 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $29.48 on Friday. Adaptive Biotechnologies has a 12-month low of $12.00 and a 12-month high of $32.21. The business’s fifty day simple moving average is $26.82 and its 200-day simple moving average is $20.08. The company has a quick ratio of 3.87, a current ratio of 3.97 and a debt-to-equity ratio of 1.82.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The firm had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $71.57 million. During the same quarter last year, the firm earned $0.06 EPS. The business’s quarterly revenue was down 10.7% on a year-over-year basis. As a group, analysts expect that Adaptive Biotechnologies will post -0.24 earnings per share for the current year.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.