Adaptive Biotechnologies (NASDAQ:ADPT) Reaches New 1-Year High – Still a Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) reached a new 52-week high during trading on Monday . The stock traded as high as $9.01 and last traded at $8.90, with a volume of 713734 shares traded. The stock had previously closed at $8.40.

Analysts Set New Price Targets

ADPT has been the subject of a number of research analyst reports. The Goldman Sachs Group raised Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $8.00 to $9.00 in a research report on Friday, March 21st. 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. Piper Sandler reissued an “overweight” rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Finally, Scotiabank increased their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $9.40.

Adaptive Biotechnologies Trading Down 1.4 %

The stock has a market capitalization of $1.27 billion, a PE ratio of -7.71 and a beta of 1.53. The firm’s fifty day moving average price is $7.83 and its two-hundred day moving average price is $6.30.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter last year, the business posted ($0.30) EPS. As a group, sell-side analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Insider Activity

In other Adaptive Biotechnologies news, insider Francis Lo sold 20,875 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total transaction of $145,916.25. Following the sale, the insider now owns 332,846 shares of the company’s stock, valued at approximately $2,326,593.54. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad M. Robins sold 158,921 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at approximately $21,798,890.46. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 755,903 shares of company stock valued at $6,025,342 in the last quarter. Insiders own 6.20% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of ADPT. Intech Investment Management LLC purchased a new stake in shares of Adaptive Biotechnologies in the third quarter valued at about $176,000. Charles Schwab Investment Management Inc. raised its stake in Adaptive Biotechnologies by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,743 shares of the company’s stock valued at $4,694,000 after purchasing an additional 10,262 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Adaptive Biotechnologies by 58.7% during the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock worth $3,555,000 after buying an additional 256,933 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Adaptive Biotechnologies in the third quarter valued at approximately $177,000. Finally, FMR LLC lifted its stake in shares of Adaptive Biotechnologies by 102.0% during the third quarter. FMR LLC now owns 233,566 shares of the company’s stock valued at $1,196,000 after buying an additional 117,965 shares during the period. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.