Analysts Set Adaptive Biotechnologies Co. (NASDAQ:ADPT) Target Price at $6.40

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $6.40.

Separately, JPMorgan Chase & Co. increased their price target on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Manchester Capital Management LLC acquired a new stake in Adaptive Biotechnologies in the first quarter worth $32,000. MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the 2nd quarter worth about $36,000. Rothschild Investment LLC bought a new stake in shares of Adaptive Biotechnologies during the second quarter valued at about $36,000. Personal CFO Solutions LLC bought a new position in Adaptive Biotechnologies in the 4th quarter valued at about $55,000. Finally, Nisa Investment Advisors LLC increased its stake in Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company's stock valued at $48,000 after buying an additional 11,852 shares during the period. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Price Performance

ADPT traded down $0.13 on Friday, reaching $4.65. The company's stock had a trading volume of 1,289,541 shares, compared to its average volume of 1,468,416. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $6.34. The business's 50 day moving average is $4.47 and its 200 day moving average is $3.68. The stock has a market cap of $685.26 million, a price-to-earnings ratio of -3.12 and a beta of 1.42.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.02. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 60.99%. The business had revenue of $43.19 million during the quarter, compared to the consensus estimate of $38.63 million. During the same quarter last year, the company earned ($0.33) earnings per share. The business's quarterly revenue was down 11.7% compared to the same quarter last year. As a group, research analysts forecast that Adaptive Biotechnologies will post -1.19 earnings per share for the current fiscal 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.