Adaptive Biotechnologies (NASDAQ:ADPT) PT Raised to $6.00

Adaptive Biotechnologies (NASDAQ:ADPT) had its target price increased by JPMorgan Chase & Co. from $5.00 to $6.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Separately, BTIG Research dropped their price objective on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a buy rating on the stock in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of Moderate Buy and an average price target of $6.40.

Adaptive Biotechnologies Trading Up 0.5 %

Shares of ADPT opened at $4.32 on Friday. The firm’s 50-day moving average price is $3.72 and its 200-day moving average price is $3.52. The firm has a market capitalization of $636.64 million, a price-to-earnings ratio of -2.77 and a beta of 1.35. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $6.96.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Thursday, August 1st. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. The firm had revenue of $43.19 million for the quarter, compared to analyst estimates of $38.63 million. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 57.43%. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.33) EPS. On average, research analysts forecast that Adaptive Biotechnologies will post -1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Hedge funds have recently bought and sold shares of the business. Manchester Capital Management LLC purchased a new position in Adaptive Biotechnologies in the first quarter worth about $32,000. Rothschild Investment LLC purchased a new position in Adaptive Biotechnologies in the second quarter worth about $36,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Adaptive Biotechnologies in the first quarter worth about $46,000. First Trust Direct Indexing L.P. purchased a new position in shares of Adaptive Biotechnologies during the first quarter valued at approximately $47,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Adaptive Biotechnologies by 769.6% during the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after purchasing an additional 11,852 shares during the last quarter. Institutional investors own 99.17% of the company’s stock.

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.