Adaptive Biotechnologies (NASDAQ:ADPT) Reaches New 12-Month Low at $27.70

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s stock price reached a new 52-week low on Friday . The stock traded as low as $27.70 and last traded at $28.01, with a volume of 390445 shares trading hands. The stock had previously closed at $28.70.

ADPT has been the subject of several recent research reports. Bank of America initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They set a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They set an “overweight” rating and a $45.00 target price for the company. Guggenheim initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They set a “buy” rating and a $47.00 target price for the company. Cowen initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They set an “outperform” rating for the company. Finally, William Blair initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $43.33.

The company’s fifty day moving average is $39.51.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted 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 firm had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $19.39 million. The firm’s revenue for the quarter was up 90.5% compared to the same quarter last year. As a group, equities analysts predict that Adaptive Biotechnologies Corporation will post -0.63 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ADPT. Columbus Hill Capital Management L.P. acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $48,000. Hudock Capital Group LLC acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $62,000. AGF Investments Inc. acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $121,000. Point72 Hong Kong Ltd acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $216,000. Finally, Crosslink Capital Inc. acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $242,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Company Profile (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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