BTIG Research Raises Adaptive Biotechnologies (NASDAQ:ADPT) Price Target to $8.00

by · The Cerbat Gem

Adaptive Biotechnologies (NASDAQ:ADPT – Free Report) had its price objective increased by BTIG Research from $7.00 to $8.00 in a research report report published on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Separately, JPMorgan Chase & Co. upped their price target on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of Moderate Buy and an average price target of $7.00.

Read Our Latest Research Report on ADPT

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $5.52 on Wednesday. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $5.55. The company has a market cap of $813.47 million, a P/E ratio of -3.70 and a beta of 1.42. The stock’s fifty day moving average price is $4.59 and its 200-day moving average price is $3.77.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.31) EPS 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 firm had revenue of $43.19 million during the quarter, compared to analyst estimates of $38.63 million. During the same period in the previous year, the business posted ($0.33) earnings per share. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Adaptive Biotechnologies will post -1.19 earnings per share for the current year.

Institutional Trading of Adaptive Biotechnologies

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Adaptive Biotechnologies by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company’s stock worth $177,000 after acquiring an additional 2,710 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in Adaptive Biotechnologies by 1.9% during the first quarter. Essex Investment Management Co. LLC now owns 277,096 shares of the company’s stock valued at $889,000 after purchasing an additional 5,183 shares in the last quarter. American Century Companies Inc. lifted its position in Adaptive Biotechnologies by 18.3% during the second quarter. American Century Companies Inc. now owns 45,562 shares of the company’s stock valued at $165,000 after purchasing an additional 7,039 shares during the last quarter. Manchester Capital Management LLC purchased a new position in shares of Adaptive Biotechnologies in the 1st quarter worth $32,000. Finally, MQS Management LLC bought a new stake in shares of Adaptive Biotechnologies in the 2nd quarter worth about $36,000. 99.17% of the stock is currently owned by institutional investors.

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.

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