Adaptive Biotechnologies (NASDAQ:ADPT) Stock Rating Upgraded by The Goldman Sachs Group

Adaptive Biotechnologies (NASDAQ:ADPT) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat reports. The firm presently has a $9.00 price objective on the stock, up from their prior price objective of $8.00. The Goldman Sachs Group’s target price points to a potential upside of 7.14% from the company’s previous close.

A number of other brokerages have also recently commented on ADPT. Scotiabank upped their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Finally, BTIG Research increased their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $9.40.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $8.40 on Friday. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $8.95. The company has a market capitalization of $1.25 billion, a PE ratio of -7.71 and a beta of 1.53. The company has a fifty day moving average of $7.74 and a two-hundred day moving average of $6.23.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same period in the previous year, the business earned ($0.30) earnings per share. On average, research analysts expect that Adaptive Biotechnologies will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 53,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the completion of the transaction, the director now directly owns 69,690 shares of the company’s stock, valued at approximately $528,947.10. This trade represents a 43.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kyle Piskel sold 10,320 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $72,033.60. Following the completion of the sale, the chief financial officer now owns 269,010 shares in the company, valued at $1,877,689.80. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 755,903 shares of company stock valued at $6,025,342. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System grew its position in shares of Adaptive Biotechnologies by 1,060.5% in the fourth quarter. California State Teachers Retirement System now owns 97,388 shares of the company’s stock valued at $584,000 after purchasing an additional 88,996 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $711,000. Voloridge Investment Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $174,000. Soleus Capital Management L.P. grew its position in shares of Adaptive Biotechnologies by 168.1% in the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock valued at $17,884,000 after purchasing an additional 1,870,393 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Adaptive Biotechnologies by 265.3% in the fourth quarter. Squarepoint Ops LLC now owns 44,401 shares of the company’s stock valued at $266,000 after purchasing an additional 32,247 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.