Adaptive Biotechnologies (NASDAQ:ADPT) Shares Up 7.9% Following Analyst Upgrade

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report)'s share price traded up 7.9% during trading on Thursday after Scotiabank raised their price target on the stock from $10.00 to $12.00. Scotiabank currently has a sector outperform rating on the stock. Adaptive Biotechnologies traded as high as $8.13 and last traded at $8.15. 453,401 shares were traded during trading, a decline of 70% from the average session volume of 1,494,131 shares. The stock had previously closed at $7.55.

Several other equities research analysts also recently issued reports on ADPT. BTIG Research increased their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. The Goldman Sachs Group increased their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, Piper Sandler boosted their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an "overweight" rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Adaptive Biotechnologies presently has an average rating of "Moderate Buy" and a consensus target price of $8.30.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADPT. The Manufacturers Life Insurance Company lifted its holdings in shares of Adaptive Biotechnologies by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company's stock worth $177,000 after buying an additional 2,710 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Adaptive Biotechnologies by 89.9% in the 3rd quarter. SG Americas Securities LLC now owns 41,145 shares of the company's stock valued at $211,000 after purchasing an additional 19,478 shares during the period. Vontobel Holding Ltd. grew its position in shares of Adaptive Biotechnologies by 30.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company's stock worth $87,000 after purchasing an additional 4,000 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Adaptive Biotechnologies by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 28,364 shares of the company's stock worth $145,000 after purchasing an additional 11,050 shares during the period. Finally, US Bancorp DE raised its position in shares of Adaptive Biotechnologies by 77.2% in the third quarter. US Bancorp DE now owns 163,106 shares of the company's stock valued at $835,000 after buying an additional 71,065 shares in the last quarter. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Stock Down 2.2 %

The firm has a market capitalization of $1.23 billion, a P/E ratio of -6.22 and a beta of 1.50. The firm has a 50 day moving average of $7.05 and a 200-day moving average of $5.68.

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 analysts' consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 110.13% and a negative return on equity of 62.06%. During the same quarter in the prior year, the business earned ($0.30) EPS. As a group, research analysts expect that Adaptive Biotechnologies Co. will post -1.08 EPS for the current year.

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.