Analysts Set Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Target Price at $15.22

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have received an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.2222.

ADPT has been the topic of several analyst reports. TD Cowen increased their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Guggenheim assumed coverage on Adaptive Biotechnologies in a research note on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price target for the company. BTIG Research increased their price target on Adaptive Biotechnologies from $14.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Adaptive Biotechnologies from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, October 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ADPT. GAMMA Investing LLC grew its stake in shares of Adaptive Biotechnologies by 36.5% in the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company’s stock worth $100,000 after purchasing an additional 3,583 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Adaptive Biotechnologies during the first quarter valued at about $87,000. Teacher Retirement System of Texas bought a new position in Adaptive Biotechnologies during the first quarter valued at about $708,000. Principal Financial Group Inc. boosted its stake in Adaptive Biotechnologies by 98.8% during the first quarter. Principal Financial Group Inc. now owns 285,135 shares of the company’s stock valued at $2,119,000 after buying an additional 141,691 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Adaptive Biotechnologies by 3.8% during the first quarter. D.A. Davidson & CO. now owns 91,850 shares of the company’s stock valued at $682,000 after buying an additional 3,400 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT opened at $16.80 on Monday. Adaptive Biotechnologies has a 1-year low of $4.27 and a 1-year high of $17.89. The business’s fifty day moving average price is $14.35 and its two-hundred day moving average price is $11.62. The firm has a market capitalization of $2.56 billion, a PE ratio of -20.49 and a beta of 2.06.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.07. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The firm had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. During the same period last year, the company earned ($0.31) earnings per share. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. Equities research analysts expect that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal year.

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.