Morgan Stanley analyst Tejas Savant maintained a Hold rating on Adaptive Biotechnologies (ADPT – Research Report) today and set a price target of $60.00. The company’s shares closed last Friday at $56.24.
According to TipRanks.com, Savant is a 3-star analyst with an average return of 14.1% and a 71.4% success rate. Savant covers the Healthcare sector, focusing on stocks such as Ortho Clinical Diagnostics Holdings, Pacific Biosciences, and NanoString Tech.
Adaptive Biotechnologies has an analyst consensus of Moderate Buy, with a price target consensus of $67.00.
Based on Adaptive Biotechnologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $26.3 million and GAAP net loss of $36.72 million. In comparison, last year the company earned revenue of $24.21 million and had a GAAP net loss of $20.61 million.
Based on the recent corporate insider activity of 172 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADPT in relation to earlier this year.
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Adaptive Biotechnologies Corp. engages in the development of an immune medicine platform. It harnesses the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its products and services include immunoSEQ, clonoSEQ, cellular therapy, and vaccines. The company was founded by Chad Robins, Harlan Robins, and Chris Carlson in September 2009 and is headquartered in Seattle, WA.