Adaptive Biotechnologies Corporation $ADPT Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 52.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,995,301 shares of the company’s stock after selling 3,297,333 shares during the quarter. Millennium Management LLC owned about 1.97% of Adaptive Biotechnologies worth $22,255,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Blair William & Co. IL acquired a new position in Adaptive Biotechnologies in the 1st quarter valued at $84,000. Personal CFO Solutions LLC acquired a new position in Adaptive Biotechnologies in the 1st quarter valued at $84,000. Wealth Enhancement Advisory Services LLC acquired a new position in Adaptive Biotechnologies in the 1st quarter valued at $87,000. Candriam S.C.A. acquired a new position in Adaptive Biotechnologies in the 1st quarter valued at $90,000. Finally, GAMMA Investing LLC increased its stake in Adaptive Biotechnologies by 36.5% in the 1st quarter. GAMMA Investing LLC now owns 13,393 shares of the company’s stock valued at $100,000 after buying an additional 3,583 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Down 6.5%

Adaptive Biotechnologies stock opened at $12.61 on Friday. Adaptive Biotechnologies Corporation has a 52 week low of $3.98 and a 52 week high of $13.68. The firm’s 50-day simple moving average is $11.94 and its 200 day simple moving average is $9.91. The firm has a market capitalization of $1.92 billion, a PE ratio of -15.38 and a beta of 1.93.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) EPS 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 business had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. During the same period in the previous year, the firm earned ($0.31) EPS. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADPT. Piper Sandler boosted their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price 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. TD Cowen boosted 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. Finally, Craig Hallum assumed coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 18th. They set a “buy” rating and a $15.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.