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

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a report released on Friday, MarketBeat reports. The firm currently has a $9.00 price objective on the stock, up from their prior price objective of $8.00. The Goldman Sachs Group's price objective would indicate a potential upside of 6.89% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. BTIG Research raised their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Scotiabank increased 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. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $11.00 target price (up previously 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 a consensus rating of "Buy" and an average target price of $9.40.

Adaptive Biotechnologies Price Performance

ADPT traded down $0.24 during trading on Friday, hitting $8.42. 1,801,921 shares of the stock traded hands, compared to its average volume of 1,448,534. The business has a 50 day moving average price of $7.78 and a 200 day moving average price of $6.27. Adaptive Biotechnologies has a twelve month low of $2.28 and a twelve month high of $9.01. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -7.72 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates 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 company posted ($0.30) earnings per share. On average, equities research analysts predict that Adaptive Biotechnologies will post -0.92 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 211,160 shares of the firm's 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 approximately $21,901,958.50. This trade represents a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Hershberg sold 53,000 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 69,690 shares in the company, valued at approximately $528,947.10. This represents a 43.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 755,903 shares of company stock worth $6,025,342 in the last quarter. 6.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently made changes to their positions in ADPT. Impact Partnership Wealth LLC boosted its holdings in Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company's stock valued at $114,000 after acquiring an additional 1,539 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Adaptive Biotechnologies by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock worth $486,000 after purchasing an additional 2,163 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Adaptive Biotechnologies by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company's stock valued at $395,000 after purchasing an additional 2,625 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Adaptive Biotechnologies by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company's stock worth $188,000 after buying an additional 2,928 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Adaptive Biotechnologies by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock worth $414,000 after buying an additional 3,650 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

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.