William Blair Has Bullish Forecast for ADPT FY2024 Earnings

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) - Investment analysts at William Blair boosted their FY2024 earnings estimates for shares of Adaptive Biotechnologies in a research report issued to clients and investors on Thursday, November 14th. William Blair analyst A. Brackmann now expects that the company will post earnings of ($1.09) per share for the year, up from their prior estimate of ($1.17). The consensus estimate for Adaptive Biotechnologies' current full-year earnings is ($1.10) per share. William Blair also issued estimates for Adaptive Biotechnologies' Q4 2024 earnings at ($0.23) EPS, Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.22) EPS, Q4 2025 earnings at ($0.20) EPS and FY2025 earnings at ($0.94) EPS.

Several other analysts have also recently issued reports on the stock. 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. Piper Sandler increased their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Finally, BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd.

Adaptive Biotechnologies Trading Down 7.9 %

Adaptive Biotechnologies stock traded down $0.40 during trading on Monday, hitting $4.68. The company had a trading volume of 1,390,561 shares, compared to its average volume of 1,406,645. The stock has a market cap of $690.67 million, a price-to-earnings ratio of -3.60 and a beta of 1.45. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $6.70. The company's 50 day simple moving average is $4.95 and its 200-day simple moving average is $4.27.

Institutional Investors Weigh In On Adaptive Biotechnologies

Hedge funds have recently made changes to their positions in the business. Barclays PLC raised its stake in Adaptive Biotechnologies by 149.5% during the 3rd quarter. Barclays PLC now owns 230,177 shares of the company's stock valued at $1,180,000 after acquiring an additional 137,936 shares during the last quarter. Pier Capital LLC raised its stake in shares of Adaptive Biotechnologies by 20.9% during the third quarter. Pier Capital LLC now owns 1,275,885 shares of the company's stock worth $6,533,000 after purchasing an additional 220,586 shares during the last quarter. State Street Corp raised its stake in shares of Adaptive Biotechnologies by 2.0% during the third quarter. State Street Corp now owns 2,551,785 shares of the company's stock worth $13,065,000 after purchasing an additional 48,885 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Adaptive Biotechnologies in the 3rd quarter valued at $101,000. Finally, Point72 Asset Management L.P. acquired a new position in Adaptive Biotechnologies in the 3rd quarter valued at $2,537,000. Institutional investors and hedge funds 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.