Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 1-Year High – Should You Buy?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) hit a new 52-week high during trading on Wednesday . The company traded as high as $5.80 and last traded at $5.66, with a volume of 103179 shares traded. The stock had previously closed at $5.58.

Wall Street Analyst Weigh In

ADPT has been the topic of several recent analyst reports. BTIG Research increased their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.25.

Adaptive Biotechnologies Stock Up 3.4 %

The stock has a market capitalization of $858.28 million, a PE ratio of -3.83 and a beta of 1.45. The firm’s fifty day moving average is $4.79 and its 200-day moving average is $4.11.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.08. Adaptive Biotechnologies had a negative return on equity of 60.99% and a negative net margin of 126.49%. The company had revenue of $46.44 million during the quarter, compared to the consensus estimate of $40.59 million. On average, analysts expect that Adaptive Biotechnologies Co. will post -1.19 EPS for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Large investors have recently added to or reduced their stakes in the business. JTC Employer Solutions Trustee Ltd purchased a new stake in Adaptive Biotechnologies in the 3rd quarter valued at about $26,000. Manchester Capital Management LLC acquired a new position in shares of Adaptive Biotechnologies in the 1st quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at $34,000. Rothschild Investment LLC purchased a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $36,000. Finally, MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth $36,000. 99.17% of the stock is owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.