Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 6.9% - What's Next?

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) shares were up 6.9% during mid-day trading on Wednesday . The company traded as high as $7.82 and last traded at $7.86. Approximately 516,703 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 1,427,025 shares. The stock had previously closed at $7.35.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADPT. BTIG Research lifted their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Piper Sandler reissued an "overweight" rating and issued a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. The Goldman Sachs Group raised Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $8.00 to $9.00 in a research report on Friday. Finally, Scotiabank boosted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $9.40.

Adaptive Biotechnologies Stock Up 8.4 %

The firm has a 50 day moving average price of $7.74 and a 200 day moving average price of $6.23. The stock has a market cap of $1.25 billion, a P/E ratio of -7.71 and a beta of 1.53.

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

Insider Transactions at Adaptive Biotechnologies

In other 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 transaction of $145,916.25. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad M. Robins sold 211,160 shares of the 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 transaction, the chief executive officer now owns 2,576,701 shares of the company's stock, valued at $21,901,958.50. This trade represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 755,903 shares of company stock valued at $6,025,342. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV purchased a new stake in Adaptive Biotechnologies in the 4th quarter worth about $50,000. Townsquare Capital LLC bought a new position in shares of Adaptive Biotechnologies during the third quarter valued at approximately $56,000. GAMMA Investing LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $59,000. Cibc World Markets Corp bought a new position in Adaptive Biotechnologies in the 4th quarter valued at $65,000. Finally, Centiva Capital LP purchased a new stake in shares of Adaptive Biotechnologies during the third quarter valued at $80,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

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.