Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 8.7%

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s stock price was up 8.7% on Friday . The stock traded as high as $44.01 and last traded at $43.20, approximately 415,297 shares changed hands during trading. A decline of 33% from the average daily volume of 617,228 shares. The stock had previously closed at $39.76.

Several research analysts recently weighed in on ADPT shares. BTIG Research started coverage on Adaptive Biotechnologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $46.00 price target on the stock. Cowen started coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They set an “outperform” rating on the stock. Goldman Sachs Group started coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They set a “neutral” rating and a $32.00 price target on the stock. William Blair started coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They set an “overweight” rating and a $45.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Adaptive Biotechnologies currently has a consensus rating of “Buy” and an average target price of $43.00.

The stock has a 50-day moving average price of $43.10.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, August 13th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($1.08). The business had revenue of $22.10 million during the quarter, compared to the consensus estimate of $19.39 million. The company’s revenue for the quarter was up 90.5% compared to the same quarter last year. As a group, analysts expect that Adaptive Biotechnologies Corporation will post -0.63 EPS for the current fiscal year.

In other news, insider Nancy Louise Hill bought 11,200 shares of the company’s stock in a transaction on Monday, July 1st. The shares were bought at an average cost of $20.00 per share, with a total value of $224,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Viking Global Performance Llc bought 250,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $5,000,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 262,200 shares of company stock worth $5,244,000. Insiders own 34.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AGF Investments Inc. bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $121,000. Allianz Asset Management GmbH bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $9,844,000. Artal Group S.A. bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $9,660,000. Janus Henderson Group PLC bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $12,020,000. Finally, Asymmetry Capital Management L.P. bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $1,087,000. Institutional investors own 62.83% of the company’s stock.

About Adaptive Biotechnologies (NASDAQ:ADPT)

Adaptive Biotechnologies Corporation develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer research questions that inform current and future clinical trials, as well as to discover new prognostic and diagnostic signals.

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