Adaptive Biotechnologies (NASDAQ:ADPT) Trading 8.4% Higher

Adaptive Biotechnologies Co. (NASDAQ:ADPTGet Free Report) shares traded up 8.4% during trading on Tuesday . The company traded as high as $3.75 and last traded at $3.75. 663,516 shares changed hands during trading, a decline of 48% from the average session volume of 1,286,351 shares. The stock had previously closed at $3.46.

Analyst Ratings Changes

A number of research firms recently weighed in on ADPT. William Blair restated an “outperform” rating on shares of Adaptive Biotechnologies in a research note on Friday, November 10th. Piper Sandler dropped their target price on Adaptive Biotechnologies from $13.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, November 13th. Finally, Morgan Stanley dropped their target price on Adaptive Biotechnologies from $13.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, October 24th.

Get Our Latest Research Report on Adaptive Biotechnologies

Adaptive Biotechnologies Price Performance

The stock has a 50 day moving average of $4.48 and a 200 day moving average of $5.17.

Adaptive Biotechnologies (NASDAQ:ADPTGet Free Report) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). The company had revenue of $37.92 million during the quarter, compared to analyst estimates of $43.26 million. Adaptive Biotechnologies had a negative net margin of 109.04% and a negative return on equity of 47.62%. Equities analysts expect that Adaptive Biotechnologies Co. will post -1.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Middle East FZE acquired a new position in Adaptive Biotechnologies during the fourth quarter worth about $26,000. Meeder Asset Management Inc. raised its stake in Adaptive Biotechnologies by 407.8% during the fourth quarter. Meeder Asset Management Inc. now owns 5,632 shares of the company’s stock worth $43,000 after acquiring an additional 4,523 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Adaptive Biotechnologies by 23.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,432 shares of the company’s stock worth $57,000 after acquiring an additional 1,587 shares in the last quarter. AXQ Capital LP acquired a new position in Adaptive Biotechnologies during the third quarter worth about $58,000. Finally, Headlands Technologies LLC acquired a new position in Adaptive Biotechnologies during the second quarter worth about $64,000. Institutional investors and hedge funds own 94.31% of the company’s stock.

Adaptive Biotechnologies Company Profile

(Get Free Report)

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals.

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