Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Given Average Recommendation of “Buy” by Brokerages

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Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have been assigned a consensus rating of “Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $41.83.

Separately, Zacks Investment Research raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Friday, November 15th.

NASDAQ:ADPT traded down $0.64 on Friday, reaching $27.19. 209,135 shares of the company’s stock were exchanged, compared to its average volume of 498,986. The business has a fifty day simple moving average of $27.83. Adaptive Biotechnologies has a 52-week low of $24.05 and a 52-week high of $55.12.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.06. The business had revenue of $26.10 million for the quarter, compared to analysts’ expectations of $22.09 million. The company’s revenue was up 51.7% compared to the same quarter last year. As a group, equities analysts forecast that Adaptive Biotechnologies will post -0.55 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth about $30,000. Columbus Hill Capital Management L.P. acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth about $48,000. Hudock Capital Group LLC acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth about $62,000. AGF Investments Inc. acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth about $121,000. Finally, Point72 Hong Kong Ltd acquired a new position in Adaptive Biotechnologies in the second quarter valued at approximately $216,000. 65.15% of the stock is owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer research questions that inform current and future clinical trials, as well as to discover new prognostic and diagnostic signals.

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Analyst Recommendations for Adaptive Biotechnologies (NASDAQ:ADPT)

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