In yesterday’s Wall Street session, Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares traded at $7.15, down -4.67% from the previous session.
As of this writing, 9 analysts cover Adaptive Biotechnologies Corporation (NASDAQ:ADPT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $7.00, we find $13.00. Given the previous closing price of $7.50, this indicates a potential upside of 73.33 percent. ADPT stock price is now -9.72% away from the 50-day moving average and -20.45% away from the 200-day moving average. The market capitalization of the company currently stands at $1.10B.
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There are 2 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $13.00 as their price target over the next twelve months.
With the price target enhanced from $7.50 to $14, Piper Sandler Upgraded its rating from Neutral to Overweight for Adaptive Biotechnologies Corporation (NASDAQ: ADPT). On August 25, 2022, Credit Suisse recently initiated its ‘Underperform’ rating on the stock quoting a target price of $8, while ‘Piper Sandler’ rates the stock as ‘Neutral’.
In other news, PISKEL KYLE, Principal Accounting Officer sold 959 shares of the company’s stock on Nov 16. The stock was sold for $8,506 at an average price of $8.87. Upon completion of the transaction, the Principal Accounting Officer now directly owns 46,706 shares in the company, valued at $0.33 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 01, Chief Commercial Officer, MRD SOOD NITIN sold 31,066 shares of the business’s stock. A total of $248,528 was realized by selling the stock at an average price of $8.00. This leaves the insider owning 114,505 shares of the company worth $0.82 million. Insiders disposed of 163,608 shares of company stock worth roughly $1.17 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ADPT stock. A new stake in Adaptive Biotechnologies Corporation shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $4,803,000. ALYESKA INVESTMENT GROUP, L.P. invested $3,575,000 in shares of ADPT during the first quarter. In the first quarter, JENNISON ASSOCIATES LLC acquired a new stake in Adaptive Biotechnologies Corporation valued at approximately $1,246,000. SQUAREPOINT OPS LLC acquired a new stake in ADPT for approximately $1,023,000. GRAHAM CAPITAL MANAGEMENT, L.P. purchased a new stake in ADPT valued at around $1,018,000 in the second quarter. In total, there are 310 active investors with 89.30% ownership of the company’s stock.
Tuesday morning saw Adaptive Biotechnologies Corporation (NASDAQ: ADPT) opened at $7.47. During the past 12 months, Adaptive Biotechnologies Corporation has had a low of $5.95 and a high of $29.17. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 5.40, and a quick ratio of 5.30. The fifty day moving average price for ADPT is $7.92 and a two-hundred day moving average price translates $8.99 for the stock.
The latest earnings results from Adaptive Biotechnologies Corporation (NASDAQ: ADPT) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$0.37, beating analysts’ expectations of -$0.43 by 0.06. This compares to -$0.40 EPS in the same period last year. The company reported revenue of $47.83 million for the quarter, compared to $39.47 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.19 percent. For the current quarter, analysts expect ADPT to generate $48.67M in revenue.
Adaptive Biotechnologies Corporation(ADPT) 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 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. It also provides clonoSEQ, a clinical diagnostic product for the detection and monitoring of minimal residual disease in patients with multiple myeloma, B cell acute lymphoblastic leukemia, and chronic lymphocytic leukemia, as well as available as a CLIA-validated laboratory developed test for patients with other lymphoid cancers; and immunoSEQ T-MAP COVID for vaccine developers and researchers to measure the T-cell immune response to vaccines. In addition, the company offers a pipeline of clinical products and services that are used for the diagnosing, monitoring, and treatment of diseases, such as cancer, autoimmune conditions, and infectious diseases. It serves the life sciences research, clinical diagnostics, and drug discovery applications. Adaptive Biotechnologies Corporation has strategic collaborations with Genentech, Inc. for the development, manufacture, and commercialization of neoantigen directed T cell therapies for the treatment of a range of cancers; and Microsoft Corporation to develop diagnostic tests for the early detection of various diseases from a single blood test. The company was formerly known as Adaptive TCR Corporation and changed its name to Adaptive Biotechnologies Corporation in December 2011. Adaptive Biotechnologies Corporation was incorporated in 2009 and is headquartered in Seattle, Washington.
