Adaptive Biotechnologies (NASDAQ:ADPT) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Adaptive Biotechnologies (NASDAQ:ADPT) from a neutral rating to a buy rating in a research report released on Friday, Marketbeat.com reports. The Goldman Sachs Group currently has $9.00 price objective on the stock, up from their previous price objective of $8.00.

ADPT has been the topic of a number of other research reports. Scotiabank lifted their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. BTIG Research lifted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Buy” and an average target price of $9.40.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $8.40 on Friday. Adaptive Biotechnologies has a twelve month low of $2.28 and a twelve month high of $8.95. The firm’s 50 day moving average price is $7.74 and its two-hundred day moving average price is $6.24. The firm has a market cap of $1.25 billion, a P/E ratio of -7.71 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 last year, the company earned ($0.30) EPS. On average, sell-side analysts anticipate that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Hershberg sold 53,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the transaction, the director now directly owns 69,690 shares in the company, valued at approximately $528,947.10. The trade was a 43.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chad M. Robins sold 211,160 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $21,901,958.50. The trade was a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 755,903 shares of company stock worth $6,025,342 over the last ninety days. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently added to or reduced their stakes in ADPT. KBC Group NV bought a new position in Adaptive Biotechnologies during the fourth quarter worth $50,000. Townsquare Capital LLC bought a new position in Adaptive Biotechnologies during the third quarter worth $56,000. GAMMA Investing LLC bought a new position in Adaptive Biotechnologies during the fourth quarter worth $59,000. Cibc World Markets Corp bought a new position in Adaptive Biotechnologies during the fourth quarter worth $65,000. Finally, Centiva Capital LP bought a new position in Adaptive Biotechnologies during the third quarter worth $80,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

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.