Adaptive Biotechnologies' (ADPT) Overweight Rating Reiterated at Piper Sandler

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report)'s stock had its "overweight" rating reiterated by Piper Sandler in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $11.00 price objective on the stock, up from their previous price objective of $7.00. Piper Sandler's price objective points to a potential upside of 33.01% from the stock's previous close.

Several other research firms also recently weighed in on ADPT. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Scotiabank raised their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group raised their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Adaptive Biotechnologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.10.

Adaptive Biotechnologies Trading Down 0.7 %

Shares of ADPT traded down $0.06 during trading hours on Thursday, reaching $8.27. The company had a trading volume of 1,430,002 shares, compared to its average volume of 1,612,521. The firm has a 50 day simple moving average of $7.20 and a 200-day simple moving average of $5.77. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.59 and a beta of 1.50. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly 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 net margin of 89.12% and a negative return on equity of 64.65%. During the same period in the prior year, the firm posted ($0.30) earnings per share. Sell-side analysts forecast that Adaptive Biotechnologies will post -0.94 earnings per share for the current year.

Insider Transactions at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,901,958.50. The trade was a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 469,188 shares of company stock worth $3,975,795 over the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Adaptive Biotechnologies during the third quarter worth about $34,000. KBC Group NV purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $50,000. Townsquare Capital LLC purchased a new stake in Adaptive Biotechnologies in the third quarter valued at approximately $56,000. GAMMA Investing LLC purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $59,000. Finally, Cibc World Markets Corp purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $65,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

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.