Adaptive Biotechnologies (NASDAQ:ADPT) Reaches New 1-Year High After Analyst Upgrade

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) reached a new 52-week high on Friday after Scotiabank raised their price target on the stock from $10.00 to $12.00. Scotiabank currently has a sector outperform rating on the stock. Adaptive Biotechnologies traded as high as $8.56 and last traded at $8.52, with a volume of 2063623 shares traded. The stock had previously closed at $7.55.

A number of other brokerages have also recently commented on ADPT. BTIG Research boosted their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Piper Sandler boosted their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.30.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently added to or reduced their stakes in ADPT. JTC Employer Solutions Trustee Ltd purchased a new stake in Adaptive Biotechnologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new stake in Adaptive Biotechnologies during the 3rd quarter valued at $34,000. KBC Group NV purchased a new stake in Adaptive Biotechnologies during the 4th quarter valued at $50,000. Townsquare Capital LLC purchased a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth $56,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $59,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Trading Up 12.8 %

The stock has a market capitalization of $1.26 billion, a PE ratio of -6.36 and a beta of 1.50. The firm has a 50 day moving average price of $6.92 and a 200 day moving average price of $5.59.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 62.06% and a negative net margin of 110.13%. During the same period last year, the business posted ($0.30) earnings per share. On average, equities research analysts expect that Adaptive Biotechnologies Co. will post -1.08 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.