Adaptive Biotechnologies Corporation (NASDAQ:ADPT – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.49 and last traded at $26.2190, with a volume of 196608 shares. The stock had previously closed at $25.55.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ADPT. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Piper Sandler boosted their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. dropped their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. TD Cowen raised their price target on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley lifted their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.42.
Read Our Latest Analysis on Adaptive Biotechnologies
Adaptive Biotechnologies Stock Performance
Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The business had revenue of $71.55 million during the quarter, compared to analyst estimates of $65.44 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. Analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Harlan S. Robins sold 492,400 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $21.89, for a total value of $10,778,636.00. Following the transaction, the insider directly owned 812,058 shares in the company, valued at $17,775,949.62. This trade represents a 37.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Hershberg sold 30,664 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $24.40, for a total transaction of $748,201.60. Following the completion of the transaction, the director owned 46,683 shares in the company, valued at approximately $1,139,065.20. This trade represents a 39.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,062,325 shares of company stock valued at $46,659,069. 5.70% of the stock is currently owned by company insiders.
Institutional Trading of Adaptive Biotechnologies
Several hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Adaptive Biotechnologies in the fourth quarter valued at $28,000. Nykredit A S purchased a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth approximately $31,000. Allworth Financial LP purchased a new stake in shares of Adaptive Biotechnologies in the second quarter valued at $35,000. EverSource Wealth Advisors LLC lifted its holdings in Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after purchasing an additional 1,565 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Adaptive Biotechnologies during the first quarter worth approximately $45,000. 99.17% of the stock is owned by institutional investors and hedge funds.
Adaptive Biotechnologies Company Profile
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.
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