Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw a large growth in short interest in the month of October. As of October 30th, there was short interest totalling 4,790,000 shares, a growth of 18.0% from the October 15th total of 4,060,000 shares. Based on an average trading volume of 833,500 shares, the days-to-cover ratio is currently 5.7 days.
A number of equities analysts have recently issued reports on ADPT shares. BTIG Research increased their target price on Adaptive Biotechnologies from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, November 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $60.00 price objective (up from $50.00) on shares of Adaptive Biotechnologies in a research note on Wednesday, November 11th. William Blair reaffirmed an “outperform” rating on shares of Adaptive Biotechnologies in a research note on Tuesday, August 11th. Finally, Morgan Stanley raised their price objective on Adaptive Biotechnologies from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Adaptive Biotechnologies has an average rating of “Buy” and an average target price of $54.67.
In other news, major shareholder Global Investors Lp Viking sold 2,500,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $49.52, for a total transaction of $123,800,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stacy L. Taylor sold 2,880 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $42.58, for a total value of $122,630.40. Following the transaction, the senior vice president now directly owns 2,409 shares of the company’s stock, valued at $102,575.22. The disclosure for this sale can be found here. Insiders have sold a total of 3,126,203 shares of company stock valued at $153,872,302 over the last ninety days. 34.70% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth about $33,000. American International Group Inc. increased its position in shares of Adaptive Biotechnologies by 39.8% during the second quarter. American International Group Inc. now owns 1,946 shares of the company’s stock worth $94,000 after acquiring an additional 554 shares during the last quarter. AdvisorNet Financial Inc purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth about $109,000. Point72 Hong Kong Ltd purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth about $210,000. Finally, Neo Ivy Capital Management increased its position in shares of Adaptive Biotechnologies by 753.0% during the third quarter. Neo Ivy Capital Management now owns 4,342 shares of the company’s stock worth $211,000 after acquiring an additional 3,833 shares during the last quarter. 73.67% of the stock is currently owned by institutional investors.
Shares of NASDAQ:ADPT opened at $46.40 on Friday. The business’s fifty day moving average price is $49.50 and its two-hundred day moving average price is $43.40. The stock has a market cap of $6.35 billion, a PE ratio of -48.84 and a beta of 0.27. Adaptive Biotechnologies has a one year low of $15.19 and a one year high of $54.20.
Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Sunday, November 15th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. Adaptive Biotechnologies had a negative return on equity of 20.15% and a negative net margin of 132.32%. The firm had revenue of $26.30 million for the quarter, compared to analysts’ expectations of $23.58 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. Adaptive Biotechnologies’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Adaptive Biotechnologies will post -1.08 EPS for the current year.
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 immunoSEQ research service and kit that is used to answer research questions, as well as to discover new prognostic and diagnostic signals.
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