Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Stock Has Consensus Target Price of $30.06 According to Analysts

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $30.31.

A number of equities research analysts have commented on ADPT shares. Guggenheim increased their price target on Adaptive Biotechnologies from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler boosted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. TD Cowen boosted their price target on Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. National Bank Financial set a $34.00 price objective on shares of Adaptive Biotechnologies in a report on Tuesday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $30.12, for a total transaction of $357,855.72. Following the sale, the chief operating officer owned 377,802 shares of the company’s stock, valued at approximately $11,379,396.24. The trade was a 3.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,071,525 shares of company stock worth $27,404,692. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently made changes to their positions in ADPT. BlackRock Inc. acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at $324,735,000. Wellington Management Group LLP grew its stake in Adaptive Biotechnologies by 53.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock valued at $126,799,000 after purchasing an additional 2,053,944 shares during the last quarter. Bank of America Corp DE purchased a new stake in Adaptive Biotechnologies during the 2nd quarter valued at about $37,109,000. Principal Financial Group Inc. increased its holdings in shares of Adaptive Biotechnologies by 9.8% in the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock valued at $23,664,000 after purchasing an additional 152,378 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in shares of Adaptive Biotechnologies in the second quarter valued at about $18,912,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $29.36 on Friday. The business’s fifty day simple moving average is $26.61 and its 200-day simple moving average is $19.97. The company has a quick ratio of 3.87, a current ratio of 3.97 and a debt-to-equity ratio of 1.82. Adaptive Biotechnologies has a 12-month low of $12.00 and a 12-month high of $30.81.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The firm had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $71.57 million. During the same quarter last year, the firm earned $0.06 EPS. The business’s quarterly revenue was down 10.7% on a year-over-year basis. As a group, analysts expect that Adaptive Biotechnologies will post -0.34 earnings per share for the current year.

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.