Adaptive Biotechnologies (NASDAQ:ADPT) Price Target Raised to $20.00

by · The Markets Daily

Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $17.00 to $20.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 28.53% from the stock’s current price.

Several other analysts also recently issued reports on the stock. BTIG Research upped their price target on shares of Adaptive Biotechnologies from $14.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. Guggenheim assumed coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 30th. They issued a “buy” rating and a $20.00 target price for the company. Piper Sandler raised their price target on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, TD Cowen boosted their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.56.

Get Our Latest Analysis on ADPT

Adaptive Biotechnologies Price Performance

Shares of ADPT stock traded down $2.03 during trading hours on Thursday, hitting $15.56. The stock had a trading volume of 3,633,556 shares, compared to its average volume of 1,989,281. The firm has a market capitalization of $2.37 billion, a PE ratio of -18.98 and a beta of 2.09. The stock’s 50 day moving average is $14.79 and its 200 day moving average is $11.96. Adaptive Biotechnologies has a twelve month low of $4.27 and a twelve month high of $17.89.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The company had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. During the same quarter in the previous year, the company earned ($0.22) EPS. The firm’s revenue for the quarter was up 102.4% compared to the same quarter last year. As a group, equities analysts predict that Adaptive Biotechnologies will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $87,000. Diversified Trust Co bought a new stake in Adaptive Biotechnologies in the second quarter valued at $438,000. Russell Investments Group Ltd. boosted its holdings in shares of Adaptive Biotechnologies by 104.7% during the first quarter. Russell Investments Group Ltd. now owns 165,831 shares of the company’s stock valued at $1,232,000 after acquiring an additional 84,837 shares during the period. Blair William & Co. IL bought a new position in shares of Adaptive Biotechnologies during the first quarter worth about $84,000. Finally, Invesco Ltd. grew its position in shares of Adaptive Biotechnologies by 218.3% during the first quarter. Invesco Ltd. now owns 552,531 shares of the company’s stock worth $4,105,000 after acquiring an additional 378,940 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Company Profile

(Get Free Report)

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.

Recommended Stories