Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 4.8% – What’s Next?

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s share price dropped 4.8% during trading on Wednesday . The stock traded as low as $4.99 and last traded at $5.00. Approximately 378,947 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,457,789 shares. The stock had previously closed at $5.25.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ADPT shares. BTIG Research increased their price objective on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Adaptive Biotechnologies Stock Down 4.8 %

The company has a market cap of $736.84 million, a price-to-earnings ratio of -3.36 and a beta of 1.44. The stock has a 50 day simple moving average of $4.62 and a 200 day simple moving average of $3.80.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.31) earnings per share 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 firm had revenue of $43.19 million during the quarter, compared to analyst estimates of $38.63 million. During the same period in the previous year, the company earned ($0.33) earnings per share. Adaptive Biotechnologies’s quarterly revenue was down 11.7% on a year-over-year basis. As a group, equities research analysts expect that Adaptive Biotechnologies Co. will post -1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC purchased a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $32,000. MQS Management LLC acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at approximately $36,000. Rothschild Investment LLC acquired a new position in shares of Adaptive Biotechnologies during the second quarter valued at about $36,000. Personal CFO Solutions LLC acquired a new stake in Adaptive Biotechnologies during the fourth quarter worth $55,000. Finally, Nisa Investment Advisors LLC increased its stake in Adaptive Biotechnologies by 769.6% in the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $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.