Polar Asset Management Partners Inc. Takes Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Polar Asset Management Partners Inc. has acquired 527,960 shares of Adaptive Biotechnologies, valued at approximately $3.9 million, representing 0.35% of the company's stock.
• Analysts have raised their price targets for Adaptive Biotechnologies, with multiple firms setting new targets between $14.00 and $15.00 and issuing a consensus rating of "Moderate Buy."
• Adaptive Biotechnologies reported earnings of ($0.17) per share, exceeding consensus estimates, with revenues of approximately $49.94 million for the quarter, reflecting a 36.3% year-over-year increase.

Polar Asset Management Partners Inc. acquired a new stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 527,960 shares of the company's stock, valued at approximately $3,923,000. Polar Asset Management Partners Inc. owned approximately 0.35% of Adaptive Biotechnologies at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Adaptive Biotechnologies by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company's stock valued at $82,796,000 after purchasing an additional 428,540 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Adaptive Biotechnologies by 801.6% during the 1st 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 position in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $35,692,000. Soleus Capital Management L.P. grew its holdings in shares of Adaptive Biotechnologies by 168.1% in the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock valued at $17,884,000 after acquiring an additional 1,870,393 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted 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 acquiring an additional 1,306,164 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Craig Hallum initiated coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price objective for the company. 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. Finally, TD Cowen lifted their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.38.

Adaptive Biotechnologies Trading Up 0.6%

Shares of NASDAQ ADPT traded up $0.07 during mid-day trading on Tuesday, hitting $12.61. The company had a trading volume of 1,092,696 shares, compared to its average volume of 1,743,379. Adaptive Biotechnologies Corporation has a 1 year low of $3.98 and a 1 year high of $13.52. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -15.38 and a beta of 1.93. The stock's 50-day moving average price is $11.88 and its 200-day moving average price is $9.83.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $49.40 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The firm's quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.31) EPS. As a group, equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

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.