Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 6.9% – Should You Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s share price was up 6.9% during mid-day trading on Wednesday . The company traded as high as $7.82 and last traded at $7.86. Approximately 516,703 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,427,025 shares. The stock had previously closed at $7.35.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ADPT shares. BTIG Research increased their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Scotiabank raised their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and an average target price of $9.10.

Adaptive Biotechnologies Stock Up 5.5 %

The business’s 50-day simple moving average is $7.66 and its 200 day simple moving average is $6.17. The firm has a market capitalization of $1.15 billion, a P/E ratio of -7.26 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter in the previous year, the company earned ($0.30) EPS. Sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 158,921 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,798,890.46. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michelle Renee Griffin sold 15,664 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $7.94, for a total transaction of $124,372.16. Following the completion of the transaction, the director now owns 51,685 shares in the company, valued at $410,378.90. This represents a 23.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 755,903 shares of company stock worth $6,025,342 over the last ninety days. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV bought a new position in shares of Adaptive Biotechnologies in the fourth quarter worth approximately $50,000. GAMMA Investing LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter worth approximately $59,000. Cibc World Markets Corp bought a new position in shares of Adaptive Biotechnologies in the fourth quarter worth approximately $65,000. Townsquare Capital LLC bought a new position in shares of Adaptive Biotechnologies in the third quarter worth approximately $56,000. Finally, Bridgefront Capital LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter worth approximately $80,000. Institutional investors own 99.17% of the company’s stock.

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.