Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 52-Week High – Here’s Why

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $22.99 and last traded at $22.90, with a volume of 3979442 shares. The stock had previously closed at $21.43.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADPT. JPMorgan Chase & Co. lowered their target price on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. Guggenheim upped their price target on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Morgan Stanley upped their target price on Adaptive Biotechnologies from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Finally, TD Cowen restated a “buy” rating on shares of Adaptive Biotechnologies in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and a consensus target price of $20.83.

Adaptive Biotechnologies Stock Performance

The stock has a market cap of $3.54 billion, a PE ratio of -66.97 and a beta of 2.07. The company has a 50 day moving average of $17.41 and a two-hundred day moving average of $16.17.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The company had revenue of $70.87 million during the quarter, compared to analyst estimates of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.20) EPS. As a group, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 30,941 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $14.66, for a total transaction of $453,595.06. Following the completion of the transaction, the chief operating officer owned 395,146 shares of the company’s stock, valued at $5,792,840.36. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 386,240 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $22.01, for a total value of $8,501,142.40. Following the completion of the transaction, the insider owned 1,019,658 shares in the company, valued at approximately $22,442,672.58. This trade represents a 27.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 920,545 shares of company stock valued at $18,588,281. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently made changes to their positions in ADPT. Caitong International Asset Management Co. Ltd purchased a new position in Adaptive Biotechnologies in the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its stake in Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after purchasing an additional 1,565 shares during the last quarter. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth $45,000. Assetmark Inc. grew its holdings in shares of Adaptive Biotechnologies by 867.9% during the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after buying an additional 2,708 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at about $51,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Company Profile

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.