Adaptive Biotechnologies Co. (NASDAQ:ADPT) Given Average Recommendation of “Moderate Buy” by Brokerages

Adaptive Biotechnologies Co. (NASDAQ:ADPT) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $6.40.

Separately, JPMorgan Chase & Co. upped their target price on Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Adaptive Biotechnologies Stock Down 2.7 %

Shares of NASDAQ ADPT opened at $4.65 on Friday. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $6.34. The firm has a market cap of $685.26 million, a PE ratio of -3.12 and a beta of 1.42. The company’s fifty day simple moving average is $4.47 and its 200 day simple moving average is $3.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Thursday, August 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.02. Adaptive Biotechnologies had a negative return on equity of 60.99% and a negative net margin of 126.49%. The company had revenue of $43.19 million during the quarter, compared to the consensus estimate of $38.63 million. During the same period last year, the business posted ($0.33) EPS. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, equities analysts predict that Adaptive Biotechnologies will post -1.19 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of Adaptive Biotechnologies by 22.5% in the fourth quarter. Victory Capital Management Inc. now owns 19,087 shares of the company’s stock valued at $94,000 after purchasing an additional 3,509 shares in the last quarter. Jump Financial LLC lifted its stake in Adaptive Biotechnologies by 51.2% during the 4th quarter. Jump Financial LLC now owns 35,666 shares of the company’s stock valued at $175,000 after acquiring an additional 12,072 shares in the last quarter. RPO LLC purchased a new position in Adaptive Biotechnologies during the 4th quarter worth $78,000. Rubric Capital Management LP bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $14,027,000. Finally, Personal CFO Solutions LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $55,000. Institutional investors own 99.17% of the company’s stock.

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.