US Bancorp DE Trims Stake in Adaptive Biotechnologies Corporation $ADPT

US Bancorp DE trimmed its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPTFree Report) by 11.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,415 shares of the company’s stock after selling 15,636 shares during the period. US Bancorp DE owned 0.08% of Adaptive Biotechnologies worth $1,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. increased its stake in Adaptive Biotechnologies by 8.2% in the 1st quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company’s stock worth $160,000 after buying an additional 1,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Adaptive Biotechnologies by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock worth $511,000 after buying an additional 2,914 shares in the last quarter. D.A. Davidson & CO. increased its stake in Adaptive Biotechnologies by 3.8% in the 1st quarter. D.A. Davidson & CO. now owns 91,850 shares of the company’s stock worth $682,000 after buying an additional 3,400 shares in the last quarter. 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 worth $100,000 after buying an additional 3,583 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Adaptive Biotechnologies by 4.0% in the 1st quarter. Rhumbline Advisers now owns 188,524 shares of the company’s stock worth $1,401,000 after buying an additional 7,322 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Stock Up 0.9%

ADPT opened at $17.27 on Friday. Adaptive Biotechnologies Corporation has a 52 week low of $4.27 and a 52 week high of $17.62. The firm has a 50-day simple moving average of $13.55 and a two-hundred day simple moving average of $11.00. The company has a market capitalization of $2.63 billion, a PE ratio of -21.06 and a beta of 2.06.

Adaptive Biotechnologies (NASDAQ:ADPTGet Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $49.94 million during the quarter, compared to the consensus estimate of $49.40 million. During the same quarter last year, the firm earned ($0.31) EPS. The firm’s revenue for the quarter was up 36.3% compared to the same quarter last year. As a group, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADPT. Piper Sandler increased their price target on Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen increased their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price objective on shares of Adaptive Biotechnologies from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. Finally, Guggenheim initiated coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 30th. They set a “buy” rating and a $20.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and a consensus price target of $14.11.

Get Our Latest Research Report on ADPT

About Adaptive Biotechnologies

(Free Report)

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.

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Institutional Ownership by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

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