Adaptive Biotechnologies Co. (NASDAQ:ADPT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.00.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. BTIG Research raised their price target on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently bought and sold shares of ADPT. First Trust Direct Indexing L.P. bought a new position in Adaptive Biotechnologies during the first quarter worth $47,000. China Universal Asset Management Co. Ltd. raised its stake in Adaptive Biotechnologies by 66.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 27,896 shares of the company’s stock worth $90,000 after buying an additional 11,149 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Adaptive Biotechnologies by 48.8% during the first quarter. BNP Paribas Financial Markets now owns 63,141 shares of the company’s stock worth $203,000 after buying an additional 20,710 shares during the last quarter. Moloney Securities Asset Management LLC bought a new position in Adaptive Biotechnologies during the first quarter worth $225,000. Finally, Jennison Associates LLC raised its stake in Adaptive Biotechnologies by 22.0% during the first quarter. Jennison Associates LLC now owns 174,767 shares of the company’s stock worth $561,000 after buying an additional 31,547 shares during the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $4.70 on Wednesday. The company has a market cap of $692.63 million, a price-to-earnings ratio of -3.15 and a beta of 1.44. The firm has a 50 day simple moving average of $4.70 and a 200 day simple moving average of $3.94. Adaptive Biotechnologies has a one year low of $2.28 and a one year high of $5.80.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.02. The business had revenue of $43.19 million during the quarter, compared to the consensus estimate of $38.63 million. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 60.99%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.33) EPS. As a group, analysts expect that Adaptive Biotechnologies will post -1.19 EPS for the current 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.