Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 8.2% – What’s Next?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was down 8.2% during mid-day trading on Friday . The company traded as low as $7.51 and last traded at $7.55. Approximately 1,015,272 shares were traded during trading, a decline of 31% from the average daily volume of 1,472,465 shares. The stock had previously closed at $8.22.

Analyst Ratings Changes

A number of research analysts have weighed in on ADPT shares. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $8.00 to $9.00 in a report on Friday, March 21st. Piper Sandler restated an “overweight” rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Scotiabank increased their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. Finally, BTIG Research boosted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $9.40.

Adaptive Biotechnologies Trading Down 6.7 %

The firm’s 50-day moving average is $7.88 and its two-hundred day moving average is $6.33. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -7.04 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate 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 in the previous year, the business earned ($0.30) earnings per share. On average, analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Transactions at Adaptive Biotechnologies

In related news, Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the transaction, the director now owns 69,690 shares in the company, valued at approximately $528,947.10. This trade represents a 43.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter M. Neupert sold 10,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the sale, the director now directly owns 224,690 shares of the company’s stock, valued at $1,584,064.50. This represents a 4.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 757,601 shares of company stock valued at $6,040,624. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently modified their holdings of ADPT. Vanguard Group Inc. boosted its stake in Adaptive Biotechnologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock worth $64,236,000 after buying an additional 75,448 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Adaptive Biotechnologies by 17.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock valued at $20,209,000 after purchasing an additional 489,555 shares during the last quarter. Soleus Capital Management L.P. raised its position in Adaptive Biotechnologies by 168.1% in the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock valued at $17,884,000 after purchasing an additional 1,870,393 shares during the period. Geode Capital Management LLC boosted its position in shares of Adaptive Biotechnologies by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,684,506 shares of the company’s stock worth $16,098,000 after buying an additional 22,628 shares during the period. Finally, State Street Corp grew its stake in shares of Adaptive Biotechnologies by 2.0% in the third quarter. State Street Corp now owns 2,551,785 shares of the company’s stock valued at $13,065,000 after buying an additional 48,885 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

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.