Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 5.2% – Here’s Why

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s stock price traded down 5.2% on Monday . The stock traded as low as $7.47 and last traded at $7.44. 90,922 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 1,450,058 shares. The stock had previously closed at $7.84.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ADPT shares. Piper Sandler boosted their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th.

Adaptive Biotechnologies Stock Up 1.6 %

The company has a market capitalization of $1.15 billion, a P/E ratio of -5.82 and a beta of 1.50. The firm has a fifty day simple moving average of $6.86 and a 200-day simple moving average of $5.56.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 62.06% and a negative net margin of 110.13%. During the same quarter in the previous year, the business posted ($0.30) earnings per share. On average, sell-side analysts predict that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors have recently added to or reduced their stakes in ADPT. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in shares of Adaptive Biotechnologies during the third quarter worth about $34,000. KBC Group NV acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at approximately $50,000. Townsquare Capital LLC bought a new stake in Adaptive Biotechnologies in the 3rd quarter valued at approximately $56,000. Finally, GAMMA Investing LLC acquired a new position in Adaptive Biotechnologies during the 4th quarter worth approximately $59,000. 99.17% 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 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.