Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 12-Month High - Should You Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $9.01 and last traded at $8.90, with a volume of 713734 shares traded. The stock had previously closed at $8.40.

Analysts Set New Price Targets

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

Adaptive Biotechnologies Stock Performance

The firm has a market cap of $1.13 billion, a P/E ratio of -6.91 and a beta of 1.53. The business's fifty day moving average is $7.88 and its 200-day moving average is $6.33.

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

Insider Transactions at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction on 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 transaction, the chief executive officer now owns 2,576,701 shares of the company's stock, valued at $21,901,958.50. This trade represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Hershberg sold 53,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now owns 69,690 shares of the company's stock, valued at approximately $528,947.10. The trade was a 43.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 757,601 shares of company stock worth $6,040,624 over the last ninety days. 6.20% of the stock is owned by insiders.

Institutional Trading of Adaptive Biotechnologies

Large investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at $176,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Adaptive Biotechnologies by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 916,743 shares of the company's stock valued at $4,694,000 after purchasing an additional 10,262 shares during the period. Cerity Partners LLC boosted its position in shares of Adaptive Biotechnologies by 58.7% during the 3rd quarter. Cerity Partners LLC now owns 694,417 shares of the company's stock worth $3,555,000 after purchasing an additional 256,933 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $177,000. Finally, FMR LLC increased its position in Adaptive Biotechnologies by 102.0% in the 3rd quarter. FMR LLC now owns 233,566 shares of the company's stock valued at $1,196,000 after buying an additional 117,965 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

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.