Adaptive Biotechnologies (NASDAQ:ADPT) Price Target Raised to $17.00

Adaptive Biotechnologies (NASDAQ:ADPT) had its target price raised by JPMorgan Chase & Co. from $14.00 to $17.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also issued reports on ADPT. Piper Sandler raised their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. TD Cowen increased their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Guggenheim started coverage on Adaptive Biotechnologies in a report on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Finally, Craig Hallum began coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 18th. They issued a “buy” rating and a $15.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.11.

Adaptive Biotechnologies Trading Up 9.8%

Shares of NASDAQ ADPT opened at $17.11 on Monday. Adaptive Biotechnologies has a 1 year low of $4.27 and a 1 year high of $17.14. The firm’s 50-day moving average is $13.45 and its 200-day moving average is $10.93. The firm has a market capitalization of $2.61 billion, a PE ratio of -20.87 and a beta of 2.06.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.07. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The business had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. During the same period in the prior year, the business posted ($0.31) earnings per share. Adaptive Biotechnologies’s revenue was up 36.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Adaptive Biotechnologies by 36.5% during the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company’s stock worth $100,000 after buying an additional 3,583 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $87,000. Exchange Traded Concepts LLC bought a new position in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $634,000. Diversified Trust Co bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth approximately $438,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Adaptive Biotechnologies by 104.7% in the first quarter. Russell Investments Group Ltd. now owns 165,831 shares of the company’s stock valued at $1,232,000 after purchasing an additional 84,837 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

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.