Vanguard Group Inc. Grows Holdings in Adaptive Biotechnologies Corporation $ADPT

Vanguard Group Inc. raised its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,143,428 shares of the company’s stock after buying an additional 428,540 shares during the period. Vanguard Group Inc. owned about 7.34% of Adaptive Biotechnologies worth $82,796,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Voya Investment Management LLC raised its position in Adaptive Biotechnologies by 6,121.7% during the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company’s stock valued at $14,560,000 after purchasing an additional 2,389,674 shares in the last quarter. Soleus Capital Management L.P. increased its position in shares of Adaptive Biotechnologies by 168.1% during the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock valued at $17,884,000 after purchasing an additional 1,870,393 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Adaptive Biotechnologies by 9,892.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company’s stock valued at $13,108,000 after buying an additional 1,746,571 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Adaptive Biotechnologies by 794.0% in the 4th quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company’s stock worth $4,417,000 after buying an additional 654,309 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Adaptive Biotechnologies by 397.6% in the 4th quarter. Deutsche Bank AG now owns 630,577 shares of the company’s stock worth $3,783,000 after buying an additional 503,842 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $13.00 on Friday. The stock’s 50-day moving average is $11.42 and its 200 day moving average is $9.43. The company has a market cap of $1.98 billion, a PE ratio of -15.85 and a beta of 1.92. Adaptive Biotechnologies Corporation has a 1 year low of $3.98 and a 1 year high of $13.40.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The firm had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. During the same period last year, the company earned ($0.31) EPS. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. Analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

ADPT has been the topic of several research reports. Craig Hallum began coverage on shares of Adaptive Biotechnologies in a research note on Wednesday, June 18th. They set a “buy” rating and a $15.00 price target on the stock. TD Cowen lifted their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their price objective on Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley lifted their price objective on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and an average price target of $12.38.

Adaptive Biotechnologies Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.