Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $8.12, but opened at $6.97. Adaptive Biotechnologies shares last traded at $8.19, with a volume of 2,416,660 shares.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. BTIG Research boosted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Scotiabank upped 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. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.10.
View Our Latest Stock Analysis on ADPT
Adaptive Biotechnologies Price Performance
The firm has a fifty day moving average price of $7.55 and a 200 day moving average price of $6.04. The firm has a market capitalization of $1.09 billion, a PE ratio of -6.74 and a beta of 1.53.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (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 period in the prior year, the company posted ($0.30) earnings per share. On average, sell-side analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.
Insider Transactions at Adaptive Biotechnologies
In other news, CEO Chad M. Robins sold 211,160 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following 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 represents a 7.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michelle Renee Griffin sold 15,664 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $7.94, for a total value of $124,372.16. Following the transaction, the director now directly owns 51,685 shares in the company, valued at approximately $410,378.90. This represents a 23.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 692,903 shares of company stock valued at $5,552,572 in the last three months. Corporate insiders own 6.20% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in ADPT. Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $34,000. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $50,000. Townsquare Capital LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $56,000. GAMMA Investing LLC acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at approximately $59,000. Finally, Cibc World Markets Corp acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 99.17% of the company's stock.
Adaptive Biotechnologies Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider Adaptive Biotechnologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adaptive Biotechnologies wasn't on the list.
While Adaptive Biotechnologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
