Wall Street Zen Upgrades Adaptive Biotechnologies (NASDAQ:ADPT) to Buy

by · The Markets Daily

Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

A number of other research firms have also issued reports on ADPT. Piper Sandler set a $21.00 price target on shares of Adaptive Biotechnologies in a research report on Friday. Guggenheim increased their price objective on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, January 21st. Morgan Stanley began coverage on shares of Adaptive Biotechnologies in a research report on Monday, December 1st. They set an “equal weight” rating and a $21.00 target price for the company. Finally, TD Cowen reaffirmed a “buy” rating on shares of Adaptive Biotechnologies in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.56.

Get Our Latest Report on Adaptive Biotechnologies

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $15.86 on Friday. The firm has a market capitalization of $2.42 billion, a PE ratio of -39.65 and a beta of 2.18. The company’s fifty day moving average price is $16.97 and its 200-day moving average price is $15.30. Adaptive Biotechnologies has a 1-year low of $6.26 and a 1-year high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.10. Adaptive Biotechnologies had a negative return on equity of 46.68% and a negative net margin of 21.48%.The business had revenue of $71.68 million for the quarter, compared to the consensus estimate of $59.38 million. During the same quarter in the previous year, the business earned ($0.23) EPS. The company’s quarterly revenue was up 51.0% compared to the same quarter last year. As a group, research analysts anticipate that Adaptive Biotechnologies will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Chad M. Robins sold 124,998 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $18.94, for a total transaction of $2,367,462.12. Following the sale, the chief executive officer directly owned 2,709,241 shares in the company, valued at $51,313,024.54. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Harlan S. Robins sold 34,668 shares of Adaptive Biotechnologies stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $18.60, for a total value of $644,824.80. Following the completion of the transaction, the insider owned 1,187,644 shares of the company’s stock, valued at approximately $22,090,178.40. This represents a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,515,063 shares of company stock valued at $26,319,038. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently added to or reduced their stakes in ADPT. AQR Capital Management LLC lifted its holdings in Adaptive Biotechnologies by 45.8% during the first quarter. AQR Capital Management LLC now owns 310,272 shares of the company’s stock valued at $2,265,000 after purchasing an additional 97,444 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Adaptive Biotechnologies by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock worth $511,000 after purchasing an additional 2,914 shares during the last quarter. Caxton Associates LLP purchased a new position in Adaptive Biotechnologies in the 1st quarter valued at about $93,000. KLP Kapitalforvaltning AS boosted its holdings in Adaptive Biotechnologies by 42.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 25,000 shares of the company’s stock worth $291,000 after buying an additional 7,500 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Adaptive Biotechnologies by 9.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,038 shares of the company’s stock worth $373,000 after buying an additional 2,880 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

(Get Free Report)

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.

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