Jacobs Levy Equity Management Inc. Lowers Stock Position in Adaptive Biotechnologies Corporation $ADPT

Jacobs Levy Equity Management Inc. cut its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 22.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 117,069 shares of the company’s stock after selling 33,002 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Adaptive Biotechnologies were worth $870,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Adaptive Biotechnologies by 4.0% during the first quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company’s stock worth $82,796,000 after buying an additional 428,540 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Adaptive Biotechnologies by 801.6% during the first quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company’s stock worth $49,355,000 after buying an additional 5,905,756 shares in the last quarter. Braidwell LP purchased a new stake in Adaptive Biotechnologies during the first quarter worth $35,692,000. Soleus Capital Management L.P. boosted its holdings in Adaptive Biotechnologies by 168.1% during the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock worth $17,884,000 after buying an additional 1,870,393 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Adaptive Biotechnologies by 154.4% during the first quarter. Driehaus Capital Management LLC now owns 2,152,335 shares of the company’s stock worth $15,992,000 after buying an additional 1,306,164 shares in the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADPT has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. TD Cowen upped their price objective 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. Craig Hallum initiated coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 18th. They set a “buy” rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective 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. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.38.

Adaptive Biotechnologies Stock Up 8.6%

Shares of NASDAQ ADPT opened at $13.49 on Friday. The firm has a 50-day simple moving average of $11.93 and a 200-day simple moving average of $9.88. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -16.45 and a beta of 1.93. Adaptive Biotechnologies Corporation has a 52 week low of $3.98 and a 52 week high of $13.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued 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 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 company’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.31) earnings per share. As a group, equities research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS 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.