Adaptive Biotechnologies (NASDAQ:ADPT) Upgraded by The Goldman Sachs Group to Buy Rating

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

A number of other equities research analysts have also weighed in on ADPT. Scotiabank boosted their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. BTIG Research boosted 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 reissued an “overweight” rating and set a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $9.40.

Adaptive Biotechnologies Trading Up 8.4 %

Shares of ADPT stock opened at $8.40 on Friday. The business’s fifty day simple moving average is $7.74 and its 200-day simple moving average is $6.22. The company has a market cap of $1.25 billion, a PE ratio of -7.71 and a beta of 1.53. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data 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 quarter last year, the firm earned ($0.30) EPS. On average, equities analysts forecast that Adaptive Biotechnologies will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 53,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now directly owns 69,690 shares of the company’s stock, valued at approximately $528,947.10. This represents a 43.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Piskel sold 10,320 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the completion of the transaction, the chief financial officer now owns 269,010 shares of the company’s stock, valued at approximately $1,877,689.80. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 755,903 shares of company stock valued at $6,025,342. 6.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies in the fourth quarter worth about $50,000. Townsquare Capital LLC acquired a new position in shares of Adaptive Biotechnologies in the third quarter worth about $56,000. GAMMA Investing LLC acquired a new position in shares of Adaptive Biotechnologies in the fourth quarter worth about $59,000. Cibc World Markets Corp acquired a new position in shares of Adaptive Biotechnologies in the fourth quarter worth about $65,000. Finally, Centiva Capital LP acquired a new position in shares of Adaptive Biotechnologies in the third quarter worth about $80,000. Institutional investors and hedge funds 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.