Adaptive Biotechnologies (NASDAQ:ADPT) Shares Down 3.3%

Adaptive Biotechnologies Co. (NASDAQ:ADPT) fell 3.3% during trading on Tuesday . The stock traded as low as $3.45 and last traded at $3.48. 68,433 shares changed hands during trading, a decline of 96% from the average session volume of 1,586,712 shares. The stock had previously closed at $3.60.

Wall Street Analysts Forecast Growth

Separately, BTIG Research lowered their price objective on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average price target of $6.80.

Adaptive Biotechnologies Stock Up 0.6 %

The business has a 50 day moving average price of $3.36 and a two-hundred day moving average price of $3.63. The stock has a market cap of $499.58 million, a P/E ratio of -2.28 and a beta of 1.35.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.02. The business had revenue of $41.87 million during the quarter, compared to analyst estimates of $38.78 million. Adaptive Biotechnologies had a negative net margin of 123.24% and a negative return on equity of 56.58%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted ($0.40) EPS. On average, research analysts forecast that Adaptive Biotechnologies Co. will post -1.29 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $32,000. Pinnacle Wealth Planning Services Inc. bought a new position in Adaptive Biotechnologies during the first quarter valued at $46,000. First Trust Direct Indexing L.P. purchased a new position in shares of Adaptive Biotechnologies in the 1st quarter worth $47,000. Personal CFO Solutions LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth about $55,000. Finally, AXQ Capital LP purchased a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $58,000. 99.17% of the stock is owned by institutional investors.

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.