Adaptive Biotechnologies (NASDAQ:ADPT) Price Target Raised to $8.00 at BTIG Research

Adaptive Biotechnologies (NASDAQ:ADPT) had its target price boosted by BTIG Research from $7.00 to $8.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, JPMorgan Chase & Co. lifted their target price on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of Moderate Buy and an average target price of $7.00.

Adaptive Biotechnologies Trading Up 2.4 %

NASDAQ:ADPT opened at $5.14 on Wednesday. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $5.53. The firm has a 50 day moving average of $4.53 and a 200-day moving average of $3.73. The stock has a market capitalization of $757.47 million, a P/E ratio of -3.45 and a beta of 1.42.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Thursday, August 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 60.99%. The company had revenue of $43.19 million during the quarter, compared to analysts’ expectations of $38.63 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. Adaptive Biotechnologies’s quarterly revenue was down 11.7% compared to the same quarter last year. As a group, analysts forecast that Adaptive Biotechnologies will post -1.19 EPS for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC acquired a new stake in Adaptive Biotechnologies during the 1st quarter worth $32,000. MQS Management LLC acquired a new stake in Adaptive Biotechnologies during the 2nd quarter worth $36,000. Rothschild Investment LLC acquired a new stake in Adaptive Biotechnologies during the 2nd quarter worth $36,000. Personal CFO Solutions LLC acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth $55,000. Finally, Nisa Investment Advisors LLC grew its holdings in Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after acquiring an additional 11,852 shares during the period. Institutional investors and hedge funds 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.