Analysts Set Adaptive Biotechnologies Co. (NASDAQ:ADPT) Target Price at $6.80

Adaptive Biotechnologies Co. (NASDAQ:ADPT) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $6.80.

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

Adaptive Biotechnologies Trading Up 6.5 %

Adaptive Biotechnologies stock opened at $2.79 on Monday. Adaptive Biotechnologies has a 12 month low of $2.28 and a 12 month high of $9.08. The company has a market capitalization of $411.16 million, a price-to-earnings ratio of -1.79 and a beta of 1.25. The business’s fifty day simple moving average is $3.16 and its two-hundred day simple moving average is $3.94.

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

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, President Julie Rubinstein sold 39,070 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.47, for a total transaction of $135,572.90. Following the completion of the sale, the president now directly owns 472,754 shares in the company, valued at approximately $1,640,456.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Stacy L. Taylor sold 13,381 shares of Adaptive Biotechnologies stock in a transaction on 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 $570,364.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Julie Rubinstein sold 39,070 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.47, for a total value of $135,572.90. Following the sale, the president now directly owns 472,754 shares of the company’s stock, valued at approximately $1,640,456.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,307 shares of company stock valued at $428,090. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. purchased a new stake in Adaptive Biotechnologies in the 1st quarter worth approximately $47,000. Personal CFO Solutions LLC purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth $55,000. AXQ Capital LP purchased a new stake in shares of Adaptive Biotechnologies in the third quarter worth $58,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Adaptive Biotechnologies during the 1st quarter valued at $60,000. Finally, QRG Capital Management Inc. purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $71,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

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.