Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) has received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.4167.

A number of brokerages recently commented on ADPT. TD Cowen raised their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Piper Sandler upped their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday. BTIG Research raised their price objective on Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. lowered their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th.

Adaptive Biotechnologies Stock Up 6.2%

Shares of ADPT stock opened at $24.55 on Wednesday. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. Adaptive Biotechnologies has a 12 month low of $10.65 and a 12 month high of $24.62. The stock has a market cap of $3.93 billion, a P/E ratio of -59.88 and a beta of 2.08. The company has a 50 day simple moving average of $19.82 and a two-hundred day simple moving average of $16.73.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The business had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $65.44 million. During the same quarter in the prior year, the business earned ($0.17) EPS. The company’s revenue was up 21.5% compared to the same quarter last year. On average, research analysts expect that Adaptive Biotechnologies will post -0.41 earnings per share for the current year.

Insider Activity

In other news, insider Sharon Benzeno sold 154,768 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $21.14, for a total value of $3,271,795.52. Following the completion of the sale, the insider directly owned 221,278 shares of the company’s stock, valued at $4,677,816.92. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 44,838 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $22.59, for a total transaction of $1,012,890.42. Following the sale, the insider owned 230,713 shares in the company, valued at $5,211,806.67. The trade was a 16.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,307,086 shares of company stock valued at $27,859,739. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP purchased a new stake in Adaptive Biotechnologies in the 2nd quarter worth $12,361,000. Handelsbanken Fonder AB purchased a new position in shares of Adaptive Biotechnologies in the second quarter valued at about $1,416,000. Assenagon Asset Management S.A. bought a new position in shares of Adaptive Biotechnologies in the second quarter worth about $512,000. Perceptive Advisors LLC bought a new position in shares of Adaptive Biotechnologies in the first quarter worth about $2,117,000. Finally, Bank of America Corp DE grew its position in shares of Adaptive Biotechnologies by 52.3% during the first quarter. Bank of America Corp DE now owns 1,227,917 shares of the company’s stock worth $17,043,000 after purchasing an additional 421,645 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

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.