Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 5.2% – Should You Sell?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) dropped 5.2% during mid-day trading on Monday . The stock traded as low as $7.47 and last traded at $7.44. Approximately 90,922 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,450,058 shares. The stock had previously closed at $7.84.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADPT. The Goldman Sachs Group lifted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Piper Sandler upped their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, BTIG Research raised their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th.

Adaptive Biotechnologies Price Performance

The business has a 50-day simple moving average of $6.86 and a two-hundred day simple moving average of $5.56. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -5.82 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 62.06% and a negative net margin of 110.13%. During the same period in the previous year, the firm posted ($0.30) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in Adaptive Biotechnologies by 12.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after acquiring an additional 834,253 shares during the period. Clearline Capital LP bought a new position in shares of Adaptive Biotechnologies during the third quarter worth approximately $3,147,000. Point72 Asset Management L.P. acquired a new stake in Adaptive Biotechnologies during the 3rd quarter worth approximately $2,537,000. Prudential Financial Inc. boosted its stake in Adaptive Biotechnologies by 3,290.8% in the 4th quarter. Prudential Financial Inc. now owns 481,965 shares of the company’s stock valued at $2,889,000 after purchasing an additional 467,751 shares during the period. Finally, Rubric Capital Management LP grew its holdings in Adaptive Biotechnologies by 2.9% in the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after buying an additional 400,000 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.