Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 7.6% – Should You Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) rose 7.6% during trading on Wednesday . The company traded as high as $5.07 and last traded at $5.07. Approximately 308,931 shares traded hands during trading, a decline of 78% from the average daily volume of 1,412,478 shares. The stock had previously closed at $4.71.

Wall Street Analysts Forecast Growth

ADPT has been the topic of a number of recent research reports. BTIG Research boosted their target price 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. lifted their price target on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.25.

Adaptive Biotechnologies Price Performance

The firm has a market cap of $783.08 million, a price-to-earnings ratio of -3.56 and a beta of 1.44. The firm’s fifty day moving average is $4.71 and its two-hundred day moving average is $4.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly 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. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 60.99%. The company had revenue of $43.19 million during the quarter, compared to the consensus estimate of $38.63 million. During the same period in the prior year, the company earned ($0.33) EPS. Adaptive Biotechnologies’s revenue was down 11.7% on a year-over-year basis. On average, equities analysts forecast that Adaptive Biotechnologies Co. will post -1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptive Biotechnologies during the 3rd quarter worth approximately $26,000. Manchester Capital Management LLC purchased a new stake in Adaptive Biotechnologies in the 1st quarter worth approximately $32,000. Rothschild Investment LLC acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $36,000. MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $36,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at $46,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.