Adaptive Biotechnologies (NASDAQ:ADPT) Upgraded at The Goldman Sachs Group

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) was upgraded by investment analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a note issued to investors on Friday, MarketBeat reports. The brokerage currently has a $9.00 target price on the stock, up from their previous target price of $8.00. The Goldman Sachs Group's price target suggests a potential upside of 1.24% from the stock's current price.

Other research analysts have also issued reports about the company. Scotiabank lifted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. BTIG Research lifted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Finally, Piper Sandler restated an "overweight" rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $9.40.

Adaptive Biotechnologies Trading Up 5.8 %

ADPT traded up $0.49 during mid-day trading on Friday, hitting $8.89. 1,091,590 shares of the stock were exchanged, compared to its average volume of 1,441,981. The company has a market cap of $1.32 billion, a PE ratio of -8.16 and a beta of 1.53. The firm's fifty day moving average is $7.74 and its two-hundred day moving average is $6.24. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $9.00.

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Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating 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 last year, the business earned ($0.30) earnings per share. As a group, research analysts anticipate that Adaptive Biotechnologies will post -0.92 earnings per share for the current year.

Insider Activity

In related news, insider Francis Lo sold 20,875 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total value of $145,916.25. Following the completion of the transaction, the insider now directly owns 332,846 shares of the company's stock, valued at $2,326,593.54. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter M. Neupert sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the sale, the director now directly owns 224,690 shares in the company, valued at approximately $1,584,064.50. The trade was a 4.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 755,903 shares of company stock worth $6,025,342. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds have recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at about $50,000. GAMMA Investing LLC acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $59,000. Cibc World Markets Corp acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $65,000. Townsquare Capital LLC purchased a new position in shares of Adaptive Biotechnologies during the third quarter worth approximately $56,000. Finally, Bridgefront Capital LLC acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at $80,000. Hedge funds and other institutional investors 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.