Adaptive Biotechnologies (NASDAQ:ADPT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Adaptive Biotechnologies (NASDAQ:ADPT) from a hold rating to a buy rating in a report published on Friday, Zacks.com reports. They currently have $36.00 price objective on the stock.

According to Zacks, “Adaptive Biotechnologies Corporation is a commercial-stage biotech company. It develops and commercializes immune-driven clinical products to transform the diagnosis and treatment of disease. The company’s product pipeline includes immunoSEQ, clonoSEQ and cellular therapy which are in clinical stage. Adaptive Biotechnologies Corporation is based in Seattle, Washington. “

A number of other analysts have also recently weighed in on the company. Guggenheim began coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They issued a buy rating and a $47.00 price objective for the company. Bank of America began coverage on Adaptive Biotechnologies in a research note on Monday, July 22nd. They set a buy rating and a $45.00 price objective for the company. William Blair began coverage on Adaptive Biotechnologies in a research note on Monday, July 22nd. They issued an outperform rating for the company. Cowen started coverage on Adaptive Biotechnologies in a research note on Monday, July 22nd. They issued an outperform rating for the company. Finally, BTIG Research started coverage on Adaptive Biotechnologies in a report on Tuesday, July 23rd. They set a buy rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $41.83.

Shares of NASDAQ ADPT traded up $1.63 during mid-day trading on Friday, reaching $30.14. The company’s stock had a trading volume of 819,500 shares, compared to its average volume of 601,408. The firm’s fifty day simple moving average is $28.45. Adaptive Biotechnologies has a 52 week low of $24.05 and a 52 week high of $55.12.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. The business had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $22.09 million. The company’s revenue for the quarter was up 51.7% compared to the same quarter last year. On average, sell-side analysts forecast that Adaptive Biotechnologies will post -0.58 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Columbus Hill Capital Management L.P. purchased a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth approximately $48,000. Hudock Capital Group LLC acquired a new stake in Adaptive Biotechnologies during the second quarter worth approximately $62,000. AGF Investments Inc. acquired a new stake in Adaptive Biotechnologies during the second quarter worth approximately $121,000. Point72 Hong Kong Ltd acquired a new stake in Adaptive Biotechnologies during the second quarter worth approximately $216,000. Finally, CAPROCK Group Inc. acquired a new stake in Adaptive Biotechnologies during the third quarter worth approximately $232,000. 64.89% of the stock is owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

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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Analyst Recommendations for Adaptive Biotechnologies (NASDAQ:ADPT)

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