Analysts Set Adaptive Biotechnologies Co. (NASDAQ:ADPT) Target Price at $7.25

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.80.

Several research firms recently commented on ADPT. BTIG Research cut their target price on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. JPMorgan Chase & Co. decreased their price objective on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, February 15th. Finally, The Goldman Sachs Group cut their target price on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, February 16th.

Adaptive Biotechnologies Trading Down 8.9 %

NASDAQ ADPT opened at $2.67 on Thursday. The company has a market cap of $387.40 million, a price-to-earnings ratio of -1.71 and a beta of 1.25. Adaptive Biotechnologies has a 1-year low of $2.56 and a 1-year high of $9.08. The company has a 50 day moving average of $3.50 and a 200-day moving average of $4.19.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.02. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. The company had revenue of $45.78 million for the quarter, compared to the consensus estimate of $50.15 million. On average, equities research analysts forecast that Adaptive Biotechnologies will post -1.31 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Kyle Piskel sold 7,727 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $26,503.61. Following the transaction, the insider now directly owns 123,318 shares of the company’s stock, valued at $422,980.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Adaptive Biotechnologies news, insider Kyle Piskel sold 7,727 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $26,503.61. Following the completion of the sale, the insider now directly owns 123,318 shares of the company’s stock, valued at $422,980.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Stacy L. Taylor sold 13,381 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $45,896.83. Following the transaction, the senior vice president now directly owns 166,287 shares in the company, valued at approximately $570,364.41. The disclosure for this sale can be found here. Insiders have sold a total of 124,307 shares of company stock worth $428,090 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds have recently bought and sold shares of the business. Point72 Middle East FZE acquired a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at about $26,000. Meeder Asset Management Inc. increased its holdings in Adaptive Biotechnologies by 407.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,632 shares of the company’s stock worth $43,000 after purchasing an additional 4,523 shares in the last quarter. Personal CFO Solutions LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $55,000. PNC Financial Services Group Inc. boosted its position in shares of Adaptive Biotechnologies by 23.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,432 shares of the company’s stock valued at $57,000 after buying an additional 1,587 shares during the last quarter. Finally, AXQ Capital LP bought a new stake in Adaptive Biotechnologies during the third quarter worth $58,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

About Adaptive Biotechnologies

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.