DekaBank Deutsche Girozentrale Grows Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

DekaBank Deutsche Girozentrale grew its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) by 10.0% in the first quarter, Holdings Channel reports. The firm owned 59,600 shares of the company’s stock after purchasing an additional 5,400 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Adaptive Biotechnologies were worth $827,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ADPT. ARK Investment Management LLC grew its position in shares of Adaptive Biotechnologies by 35.3% during the 1st quarter. ARK Investment Management LLC now owns 7,709,666 shares of the company’s stock valued at $107,010,000 after purchasing an additional 2,011,798 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of Adaptive Biotechnologies by 55.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,160,923 shares of the company’s stock valued at $87,052,000 after purchasing an additional 1,133,445 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Adaptive Biotechnologies by 55.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,195,446 shares of the company’s stock valued at $89,664,000 after purchasing an additional 1,133,445 shares in the last quarter. Bellevue Group AG lifted its holdings in shares of Adaptive Biotechnologies by 47.3% during the 4th quarter. Bellevue Group AG now owns 1,968,431 shares of the company’s stock worth $55,234,000 after acquiring an additional 632,408 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its holdings in shares of Adaptive Biotechnologies by 210.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 596,873 shares of the company’s stock worth $8,285,000 after acquiring an additional 404,561 shares during the last quarter. 88.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADPT. Piper Sandler began coverage on shares of Adaptive Biotechnologies in a report on Thursday, June 2nd. They set a “neutral” rating and a $7.50 price objective for the company. The Goldman Sachs Group dropped their price objective on shares of Adaptive Biotechnologies from $14.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.08.

Adaptive Biotechnologies Stock Down 9.1 %

Adaptive Biotechnologies stock opened at $8.69 on Friday. The company has a market capitalization of $1.24 billion, a PE ratio of -5.36 and a beta of 0.92. The firm has a fifty day simple moving average of $8.21 and a two-hundred day simple moving average of $11.73. Adaptive Biotechnologies Co. has a twelve month low of $5.95 and a twelve month high of $40.00.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.01. The business had revenue of $38.62 million during the quarter, compared to the consensus estimate of $37.71 million. Adaptive Biotechnologies had a negative net margin of 148.44% and a negative return on equity of 36.67%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.29) earnings per share. As a group, equities analysts expect that Adaptive Biotechnologies Co. will post -1.68 earnings per share for the current fiscal year.

Adaptive Biotechnologies Profile

(Get Rating)

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; and T-Detect COVID for the confirmation of past COVID-19 infection.