Adaptive Biotechnologies (NASDAQ:ADPT) Shares Gap Up – Still a Buy?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) gapped up before the market opened on Monday . The stock had previously closed at $15.76, but opened at $17.51. Adaptive Biotechnologies shares last traded at $17.7420, with a volume of 718,687 shares traded.

Analyst Upgrades and Downgrades

ADPT has been the subject of several analyst reports. Piper Sandler raised their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Guggenheim assumed coverage on Adaptive Biotechnologies in a research report on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price on the stock. BTIG Research raised their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley began coverage on shares of Adaptive Biotechnologies in a research note on Monday, December 1st. They issued an “equal weight” rating and a $21.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Adaptive Biotechnologies Price Performance

The firm has a 50-day moving average price of $16.45 and a two-hundred day moving average price of $14.33. The firm has a market capitalization of $2.78 billion, a P/E ratio of -33.61 and a beta of 2.18.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $93.97 million during the quarter, compared to analyst estimates of $58.76 million. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The firm’s revenue for the quarter was up 102.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) EPS. Sell-side analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 124,998 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $15.59, for a total value of $1,948,718.82. Following the completion of the sale, the chief executive officer directly owned 2,584,243 shares in the company, valued at approximately $40,288,348.37. This represents a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Hershberg sold 22,968 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $16.00, for a total value of $367,488.00. Following the transaction, the director directly owned 46,722 shares in the company, valued at $747,552. The trade was a 32.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,358,650 shares of company stock valued at $23,122,398 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

Hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its position in Adaptive Biotechnologies by 84.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after purchasing an additional 2,731,648 shares during the period. Geode Capital Management LLC increased its holdings in Adaptive Biotechnologies by 15.6% during the second quarter. Geode Capital Management LLC now owns 3,215,171 shares of the company’s stock valued at $37,461,000 after buying an additional 434,347 shares during the period. Aristotle Atlantic Partners LLC raised its stake in Adaptive Biotechnologies by 8.6% in the third quarter. Aristotle Atlantic Partners LLC now owns 3,126,719 shares of the company’s stock worth $46,776,000 after buying an additional 247,402 shares in the last quarter. Fred Alger Management LLC raised its stake in Adaptive Biotechnologies by 6.7% in the third quarter. Fred Alger Management LLC now owns 2,514,234 shares of the company’s stock worth $37,613,000 after buying an additional 158,807 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Adaptive Biotechnologies by 544.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company’s stock worth $36,523,000 after buying an additional 2,062,282 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.