Adaptive Biotechnologies (NASDAQ:ADPT) Trading 6.7% Higher

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s share price rose 6.7% on Friday . The stock traded as high as $4.17 and last traded at $4.15. Approximately 321,605 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,563,726 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

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 report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.80.

Adaptive Biotechnologies Trading Up 1.3 %

The company has a 50 day simple moving average of $3.47 and a 200 day simple moving average of $3.58. The stock has a market cap of $580.64 million, a P/E ratio of -2.77 and a beta of 1.35.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.02. The business had revenue of $41.87 million for the quarter, compared to analyst estimates of $38.78 million. Adaptive Biotechnologies had a negative net margin of 123.24% and a negative return on equity of 56.58%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. As a group, sell-side analysts expect that Adaptive Biotechnologies Co. will post -1.29 earnings per share for the current year.

Institutional Trading of Adaptive Biotechnologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. ARK Investment Management LLC grew its stake in Adaptive Biotechnologies by 11.3% in the fourth quarter. ARK Investment Management LLC now owns 12,806,513 shares of the company’s stock valued at $62,752,000 after purchasing an additional 1,297,205 shares in the last quarter. Rubric Capital Management LP acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $14,027,000. American Century Companies Inc. lifted its stake in Adaptive Biotechnologies by 11.7% in the third quarter. American Century Companies Inc. now owns 824,318 shares of the company’s stock valued at $4,493,000 after acquiring an additional 86,478 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Adaptive Biotechnologies by 20.2% during the 4th quarter. SG Americas Securities LLC now owns 70,571 shares of the company’s stock worth $346,000 after purchasing an additional 11,851 shares during the last quarter. Finally, Braidwell LP lifted its stake in Adaptive Biotechnologies by 40.3% in the 4th quarter. Braidwell LP now owns 1,357,490 shares of the company’s stock valued at $6,652,000 after purchasing an additional 389,800 shares during the last quarter. 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.