Hsbc Holdings PLC Has $256,000 Position in Adaptive Biotechnologies Corporation $ADPT

Hsbc Holdings PLC lowered its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 26.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 34,571 shares of the company’s stock after selling 12,705 shares during the period. Hsbc Holdings PLC’s holdings in Adaptive Biotechnologies were worth $256,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ADPT. Soleus Capital Management L.P. raised its position in shares of Adaptive Biotechnologies by 168.1% during the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock valued at $17,884,000 after buying an additional 1,870,393 shares during the last quarter. Victory Capital Management Inc. raised its position in Adaptive Biotechnologies by 9,892.2% in the first quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company’s stock worth $13,108,000 after purchasing an additional 1,746,571 shares in the last quarter. Nuveen LLC acquired a new position in Adaptive Biotechnologies in the first quarter worth about $9,623,000. Lord Abbett & CO. LLC acquired a new position in Adaptive Biotechnologies in the first quarter worth about $7,633,000. Finally, Ameriprise Financial Inc. raised its position in Adaptive Biotechnologies by 794.0% in the fourth quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company’s stock worth $4,417,000 after purchasing an additional 654,309 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Up 1.3%

NASDAQ ADPT opened at $13.02 on Friday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -15.88 and a beta of 1.93. The company has a 50 day moving average of $11.81 and a 200-day moving average of $9.73. Adaptive Biotechnologies Corporation has a 1-year low of $3.98 and a 1-year high of $13.52.

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

Analysts Set New Price Targets

Several research firms recently issued reports on ADPT. Piper Sandler increased their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. TD Cowen increased their price target 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. Craig Hallum began coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 18th. They issued a “buy” rating and a $15.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus target price of $12.38.

About Adaptive Biotechnologies

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.