Adaptive Biotechnologies (NASDAQ:ADPT) Shares Up 4.7%

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s share price shot up 4.7% during mid-day trading on Friday . The company traded as high as $3.55 and last traded at $3.55. 500,760 shares were traded during trading, a decline of 68% from the average session volume of 1,577,552 shares. The stock had previously closed at $3.39.

Wall Street Analysts Forecast Growth

Separately, BTIG Research dropped their price objective on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.80.

Adaptive Biotechnologies Trading Up 5.9 %

The business has a 50 day moving average of $3.38 and a two-hundred day moving average of $3.63. The firm has a market cap of $529.05 million, a P/E ratio of -2.43 and a beta of 1.35.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.02. Adaptive Biotechnologies had a negative return on equity of 56.58% and a negative net margin of 123.24%. The firm had revenue of $41.87 million for the quarter, compared to analyst estimates of $38.78 million. During the same period in the prior year, the firm posted ($0.40) EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Adaptive Biotechnologies Co. will post -1.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its holdings in shares of Adaptive Biotechnologies by 46.9% during the 3rd quarter. Hsbc Holdings PLC now owns 37,039 shares of the company’s stock worth $201,000 after purchasing an additional 11,817 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth $58,000. American Century Companies Inc. grew its holdings in shares of Adaptive Biotechnologies by 11.7% during the 3rd quarter. American Century Companies Inc. now owns 824,318 shares of the company’s stock worth $4,493,000 after purchasing an additional 86,478 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Adaptive Biotechnologies by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,249,042 shares of the company’s stock worth $66,757,000 after purchasing an additional 196,555 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Adaptive Biotechnologies by 20.2% during the 4th quarter. SG Americas Securities LLC now owns 70,571 shares of the company’s stock worth $346,000 after purchasing an additional 11,851 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

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 immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.