Ieq Capital LLC Makes New Investment in Adaptive Biotechnologies Corporation $ADPT

Ieq Capital LLC bought a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 49,350 shares of the company’s stock, valued at approximately $367,000.

A number of other hedge funds also recently added to or reduced their stakes in ADPT. First Trust Advisors LP acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth approximately $99,000. Dimensional Fund Advisors LP lifted its holdings in Adaptive Biotechnologies by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company’s stock worth $9,622,000 after buying an additional 183,881 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Adaptive Biotechnologies by 30.9% during the 4th quarter. Hsbc Holdings PLC now owns 47,276 shares of the company’s stock worth $289,000 after buying an additional 11,165 shares in the last quarter. Northern Trust Corp lifted its holdings in Adaptive Biotechnologies by 13.5% during the 4th quarter. Northern Trust Corp now owns 1,093,981 shares of the company’s stock worth $6,558,000 after buying an additional 130,449 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Adaptive Biotechnologies by 794.0% during the 4th quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company’s stock worth $4,417,000 after buying an additional 654,309 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $12.85 on Friday. The firm’s fifty day moving average price is $11.84 and its 200 day moving average price is $9.76. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -15.67 and a beta of 1.93. Adaptive Biotechnologies Corporation has a 12 month low of $3.98 and a 12 month high of $13.52.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its 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. The firm had revenue of $49.94 million for the quarter, compared to the consensus estimate of $49.40 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company’s revenue was up 36.3% on a year-over-year basis. During the same period last year, the firm posted ($0.31) EPS. As a group, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADPT. TD Cowen raised 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. Piper Sandler raised their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Craig Hallum began coverage on shares of Adaptive Biotechnologies in a report on Wednesday, June 18th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an “overweight” rating in a 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.38.

Adaptive Biotechnologies Company 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.