Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.5714.

A number of analysts recently issued reports on ADPT shares. Wall Street Zen downgraded shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. TD Cowen upped their price objective on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Morgan Stanley dropped their target price on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Finally, Guggenheim restated a “buy” rating and issued a $21.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th.

Insider Activity

In other news, CFO Kyle Piskel sold 3,115 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $13.04, for a total transaction of $40,619.60. Following the completion of the transaction, the chief financial officer directly owned 256,725 shares of the company’s stock, valued at $3,347,694. This represents a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Chad M. Robins sold 37,263 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $15.19, for a total transaction of $566,024.97. Following the completion of the sale, the chief executive officer directly owned 2,180,518 shares in the company, valued at $33,122,068.42. This represents a 1.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,420,283 shares of company stock worth $34,193,619 over the last three months. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in Adaptive Biotechnologies by 1.0% in the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock worth $1,145,000 after buying an additional 933 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Adaptive Biotechnologies by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock valued at $205,000 after acquiring an additional 941 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Adaptive Biotechnologies by 7.6% in the second quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock worth $184,000 after acquiring an additional 1,119 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Adaptive Biotechnologies by 3.7% in the third quarter. Arizona State Retirement System now owns 31,443 shares of the company’s stock worth $470,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Adaptive Biotechnologies by 46.4% during the first quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock worth $61,000 after purchasing an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Down 0.6%

Shares of ADPT stock opened at $13.87 on Friday. Adaptive Biotechnologies has a twelve month low of $8.50 and a twelve month high of $20.76. The stock has a market cap of $2.22 billion, a P/E ratio of -42.03 and a beta of 2.16. The stock has a 50 day moving average of $13.79 and a 200 day moving average of $15.63.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $70.87 million for the quarter, compared to analyst estimates of $61.03 million. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.20) EPS. On average, research analysts predict that Adaptive Biotechnologies will post -0.48 earnings per share for the current fiscal year.

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.