Adaptive Biotechnologies (NASDAQ:ADPT) Shares Down 5.2% - Time to Sell?

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) shares were down 5.2% on Monday . The company traded as low as $7.47 and last traded at $7.44. Approximately 90,922 shares changed hands during trading, a decline of 94% from the average daily volume of 1,450,058 shares. The stock had previously closed at $7.84.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ADPT shares. Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a report on Thursday. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Piper Sandler upped their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group upped their price objective on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.30.

Adaptive Biotechnologies Price Performance

The company's 50-day moving average is $6.92 and its two-hundred day moving average is $5.59. The firm has a market cap of $1.26 billion, a P/E ratio of -6.36 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its 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 net margin of 110.13% and a negative return on equity of 62.06%. During the same period in the previous year, the company earned ($0.30) earnings per share. On average, analysts expect that Adaptive Biotechnologies Co. will post -1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its stake in shares of Adaptive Biotechnologies by 33.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 29,600 shares of the company's stock valued at $177,000 after buying an additional 7,500 shares during the period. Walleye Capital LLC acquired a new stake in Adaptive Biotechnologies during the 4th quarter valued at approximately $94,000. XTX Topco Ltd acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $177,000. Barclays PLC grew its position in shares of Adaptive Biotechnologies by 15.6% during the 4th quarter. Barclays PLC now owns 266,066 shares of the company's stock worth $1,596,000 after buying an additional 35,889 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Adaptive Biotechnologies by 35.6% during the 4th quarter. Renaissance Technologies LLC now owns 229,785 shares of the company's stock worth $1,378,000 after buying an additional 60,385 shares during the period. 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.