Strs Ohio Purchases Shares of 82,300 Adaptive Biotechnologies Corporation $ADPT

Strs Ohio bought a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 82,300 shares of the company’s stock, valued at approximately $611,000. Strs Ohio owned 0.05% of Adaptive Biotechnologies at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ADPT. Ameriprise Financial Inc. raised its stake in shares of Adaptive Biotechnologies by 794.0% in the 4th quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company’s stock valued at $4,417,000 after acquiring an additional 654,309 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at $281,000. Lazard Asset Management LLC purchased a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at $177,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Adaptive Biotechnologies by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company’s stock worth $395,000 after buying an additional 2,625 shares during the period. Finally, Man Group plc increased its stake in Adaptive Biotechnologies by 80.0% during the 4th quarter. Man Group plc now owns 288,689 shares of the company’s stock worth $1,731,000 after buying an additional 128,317 shares during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADPT shares. Piper Sandler raised their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an “overweight” rating in a report 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 company an “overweight” rating in a research note on Wednesday, August 6th. 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 target price for the company. Finally, TD Cowen boosted 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. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.38.

Adaptive Biotechnologies Stock Down 3.0%

Shares of Adaptive Biotechnologies stock opened at $13.36 on Friday. The stock has a market capitalization of $2.03 billion, a P/E ratio of -16.29 and a beta of 1.93. The company has a 50-day simple moving average of $12.08 and a 200 day simple moving average of $10.10. Adaptive Biotechnologies Corporation has a 12-month low of $3.98 and a 12-month high of $13.90.

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

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.