Guggenheim Issues Positive Forecast for Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price

Adaptive Biotechnologies (NASDAQ:ADPT) had its price objective boosted by Guggenheim from $32.00 to $34.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim‘s target price indicates a potential upside of 12.36% from the company’s current price.

Other research analysts have also issued research reports about the stock. National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a report on Tuesday, September 22nd. The Goldman Sachs Group assumed coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 29th. They set a “buy” rating and a $35.00 price objective for the company. BTIG Research increased their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. TD Cowen raised their target price on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Adaptive Biotechnologies has an average rating of “Moderate Buy” and a consensus price target of $30.31.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock opened at $30.26 on Tuesday. The stock’s 50-day moving average is $26.52 and its 200-day moving average is $19.92. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. Adaptive Biotechnologies has a 12 month low of $12.00 and a 12 month high of $30.79.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.47% and a negative net margin of 23.67%. The business had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $71.57 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. Equities research analysts anticipate that Adaptive Biotechnologies will post -0.40 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In related news, COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $26.53, for a total transaction of $315,202.93. Following the transaction, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at approximately $10,023,087.06. The trade was a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,059,644 shares of company stock worth $27,046,836. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently bought and sold shares of the company. Nykredit A S acquired a new stake in Adaptive Biotechnologies during the 2nd quarter valued at $31,000. Allworth Financial LP acquired a new position in Adaptive Biotechnologies in the 2nd quarter worth $35,000. Integrated Wealth Concepts LLC purchased a new position in Adaptive Biotechnologies in the 2nd quarter valued at about $46,000. KBC Group NV purchased a new position in Adaptive Biotechnologies in the 1st quarter valued at about $45,000. Finally, Assetmark Inc. boosted its position in Adaptive Biotechnologies by 46.4% in the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock valued at $61,000 after buying an additional 1,401 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development.

Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.