Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) had its target price upped by equities research analysts at Piper Sandler from $7.50 to $12.00 in a report released on Wednesday, The Fly reports. Piper Sandler’s target price would suggest a potential upside of 3.90% from the stock’s current price.
Several other research firms also recently weighed in on ADPT. BTIG Research decreased their price target on shares of Adaptive Biotechnologies to $17.00 in a research note on Tuesday, August 9th. The Goldman Sachs Group decreased their price target on shares of Adaptive Biotechnologies from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, May 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.
Adaptive Biotechnologies Stock Performance
Shares of NASDAQ:ADPT traded down $0.35 during mid-day trading on Wednesday, reaching $11.55. 1,239,755 shares of the company’s stock were exchanged, compared to its average volume of 1,488,850. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -7.04 and a beta of 0.99. The business’s fifty day moving average price is $9.31 and its 200-day moving average price is $10.69. Adaptive Biotechnologies has a twelve month low of $5.95 and a twelve month high of $40.00.
Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. Adaptive Biotechnologies had a negative net margin of 145.37% and a negative return on equity of 39.90%. During the same quarter last year, the firm earned ($0.35) EPS. Analysts predict that Adaptive Biotechnologies will post -1.6 EPS for the current fiscal year.
Insiders Place Their Bets
In other Adaptive Biotechnologies news, insider Nitin Sood sold 17,540 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $10.98, for a total value of $192,589.20. Following the completion of the sale, the insider now directly owns 145,571 shares of the company’s stock, valued at approximately $1,598,369.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Adaptive Biotechnologies
Institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new stake in Adaptive Biotechnologies in the 1st quarter worth about $43,000. PNC Financial Services Group Inc. grew its position in shares of Adaptive Biotechnologies by 176.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock valued at $73,000 after acquiring an additional 3,380 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Adaptive Biotechnologies by 3,683.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,978 shares of the company’s stock valued at $48,000 after acquiring an additional 5,820 shares during the period. MetLife Investment Management LLC bought a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at approximately $90,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at approximately $100,000. 88.10% of the stock is owned by institutional investors.
Adaptive Biotechnologies Company Profile
Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.