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Adaptive Biotechnologies (NASDAQ:ADPT) Shares Gap Down to $8.44

Defense World · Sep 18, 2022 03:01

Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) shares gapped down prior to trading on Friday . The stock had previously closed at $8.44, but opened at $8.06. Adaptive Biotechnologies shares last traded at $7.53, with a volume of 7,182 shares traded.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BTIG Research lowered their target price on Adaptive Biotechnologies to $17.00 in a report on Tuesday, August 9th. The Goldman Sachs Group lowered their target price on Adaptive Biotechnologies from $14.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, May 24th. Piper Sandler upped their target price on Adaptive Biotechnologies from $7.50 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, August 17th. Finally, Credit Suisse Group assumed coverage on Adaptive Biotechnologies in a report on Wednesday, August 24th. They issued an "underperform" rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $22.29.

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Adaptive Biotechnologies Trading Down 9.6 %

The business has a 50-day simple moving average of $9.86 and a 200 day simple moving average of $9.76. The stock has a market cap of $1.09 billion, a P/E ratio of -4.65 and a beta of 0.96.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.37) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.06. Adaptive Biotechnologies had a negative return on equity of 39.90% and a negative net margin of 145.37%. During the same period last year, the firm posted ($0.35) EPS. As a group, equities analysts expect that Adaptive Biotechnologies Co. will post -1.58 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In related news, insider Nitin Sood sold 17,540 shares of the company's stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $10.98, for a total transaction of $192,589.20. Following the sale, the insider now owns 145,571 shares in the company, valued at approximately $1,598,369.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in Adaptive Biotechnologies by 5.7% in the first quarter. SG Americas Securities LLC now owns 25,239 shares of the company's stock worth $350,000 after acquiring an additional 1,363 shares in the last quarter. Arizona State Retirement System boosted its holdings in Adaptive Biotechnologies by 8.3% in the second quarter. Arizona State Retirement System now owns 26,859 shares of the company's stock worth $217,000 after acquiring an additional 2,061 shares in the last quarter. Family Management Corp boosted its holdings in Adaptive Biotechnologies by 14.3% in the fourth quarter. Family Management Corp now owns 17,556 shares of the company's stock worth $493,000 after acquiring an additional 2,193 shares in the last quarter. Amalgamated Bank boosted its holdings in Adaptive Biotechnologies by 10.1% in the first quarter. Amalgamated Bank now owns 24,913 shares of the company's stock worth $346,000 after acquiring an additional 2,285 shares in the last quarter. Finally, Credit Suisse AG boosted its holdings in Adaptive Biotechnologies by 3.1% in the second quarter. Credit Suisse AG now owns 90,513 shares of the company's stock worth $732,000 after acquiring an additional 2,720 shares in the last quarter. Institutional investors own 93.49% of the company's stock.

Adaptive Biotechnologies Company Profile

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Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.