Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 52-Week High on Analyst Upgrade

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s stock price reached a new 52-week high during trading on Friday after Scotiabank raised their price target on the stock from $10.00 to $12.00. Scotiabank currently has a sector outperform rating on the stock. Adaptive Biotechnologies traded as high as $8.56 and last traded at $8.52, with a volume of 2063623 shares trading hands. The stock had previously closed at $7.55.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler increased their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their price target 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. Finally, BTIG Research upped their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

Institutional Trading of Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently made changes to their positions in ADPT. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Adaptive Biotechnologies in the third quarter worth $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies in the third quarter worth $34,000. KBC Group NV acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth $50,000. Townsquare Capital LLC acquired a new stake in shares of Adaptive Biotechnologies in the third quarter worth $56,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth $59,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Down 2.2 %

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -6.22 and a beta of 1.50. The stock’s 50 day moving average price is $7.01 and its two-hundred day moving average price is $5.65.

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

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.