Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) shares dropped 6.6% on Thursday . The stock traded as low as $6.90 and last traded at $6.91. Approximately 9,403 shares traded hands during trading, a decline of 99% from the average daily volume of 1,057,730 shares. The stock had previously closed at $7.40.
Analyst Ratings Changes
ADPT has been the subject of several research reports. Piper Sandler raised their price target on shares of Adaptive Biotechnologies from $7.50 to $12.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 17th. Credit Suisse Group initiated coverage on shares of Adaptive Biotechnologies in a research note on Wednesday, August 24th. They set an "underperform" rating and a $8.00 price target for the company. Finally, BTIG Research decreased their price target on shares of Adaptive Biotechnologies to $17.00 in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of "Hold" and an average price target of $22.29.
Get Adaptive Biotechnologies alerts:Adaptive Biotechnologies Stock Down 5.8 %
The firm's 50 day moving average is $9.62 and its two-hundred day moving average is $9.61.
Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last released its earnings results on Wednesday, August 3rd. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.03. Adaptive Biotechnologies had a negative net margin of 145.37% and a negative return on equity of 39.90%. The business had revenue of $43.66 million during the quarter, compared to analysts' expectations of $43.30 million. During the same period last year, the business earned ($0.35) earnings per share. On average, research analysts anticipate that Adaptive Biotechnologies Co. will post -1.58 EPS for the current fiscal year.Insider Buying and Selling at Adaptive Biotechnologies
In other Adaptive Biotechnologies news, insider Nitin Sood sold 17,540 shares of the firm's stock in a transaction on Friday, August 5th. The stock was sold at an average price of $10.98, for a total transaction of $192,589.20. Following the completion of the sale, the insider now owns 145,571 shares of the company's stock, valued at approximately $1,598,369.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.20% of the company's stock.
Institutional Investors Weigh In On Adaptive Biotechnologies
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in shares of Adaptive Biotechnologies by 5.7% during the first quarter. SG Americas Securities LLC now owns 25,239 shares of the company's stock worth $350,000 after buying an additional 1,363 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Adaptive Biotechnologies by 8.3% during the second quarter. Arizona State Retirement System now owns 26,859 shares of the company's stock worth $217,000 after buying an additional 2,061 shares in the last quarter. Family Management Corp lifted its holdings in shares of Adaptive Biotechnologies by 14.3% during the fourth quarter. Family Management Corp now owns 17,556 shares of the company's stock worth $493,000 after buying an additional 2,193 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Adaptive Biotechnologies by 10.1% during the first quarter. Amalgamated Bank now owns 24,913 shares of the company's stock worth $346,000 after buying an additional 2,285 shares in the last quarter. Finally, Credit Suisse AG lifted its holdings in shares of Adaptive Biotechnologies by 3.1% during the second quarter. Credit Suisse AG now owns 90,513 shares of the company's stock worth $732,000 after buying an additional 2,720 shares in the last quarter. Institutional investors and hedge funds 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.
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