Nuveen LLC Makes New $9.62 Million Investment in Adaptive Biotechnologies Corporation $ADPT

Nuveen LLC bought a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,295,117 shares of the company’s stock, valued at approximately $9,623,000.

Other hedge funds have also made changes to their positions in the company. Bridgefront Capital LLC purchased a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $80,000. Personal CFO Solutions LLC purchased a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth $84,000. Blair William & Co. IL purchased a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth $84,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth $87,000. Finally, Walleye Capital LLC purchased a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $94,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Price Performance

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

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, beating the consensus estimate 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 company had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. During the same period in the prior year, the company posted ($0.31) EPS. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. On average, analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

ADPT has been the subject of several research reports. The Goldman Sachs Group upped their target price on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Piper Sandler upped their price objective on 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. upped their price objective on Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Craig Hallum started coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They set a “buy” rating and a $15.00 price objective for the company. Finally, TD Cowen upped their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average 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.