Bosun Asset Management LLC Buys Shares of 65,334 Adaptive Biotechnologies Corporation $ADPT

Key Points

• Bosun Asset Management LLC purchased 65,334 shares of Adaptive Biotechnologies Corporation, valued at approximately $485,000, indicating growing institutional interest in the company.
• Analysts have raised their price targets for Adaptive Biotechnologies, with JPMorgan Chase & Co. increasing its target from $10.00 to $14.00 and several other firms setting target prices around $15.00.
• Adaptive Biotechnologies reported a quarterly revenue of $49.94 million, up 36.3% year-over-year, and beat EPS estimates by reporting ($0.17) compared to a consensus of ($0.24).

Bosun Asset Management LLC purchased a new stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 65,334 shares of the company's stock, valued at approximately $485,000.

A number of other large investors have also added to or reduced their stakes in ADPT. Fox Run Management L.L.C. increased its position in shares of Adaptive Biotechnologies by 8.2% in the first quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company's stock valued at $160,000 after acquiring an additional 1,631 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Adaptive Biotechnologies by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company's stock valued at $395,000 after acquiring an additional 2,625 shares during the period. D.A. Davidson & CO. increased its position in shares of Adaptive Biotechnologies by 3.8% in the first quarter. D.A. Davidson & CO. now owns 91,850 shares of the company's stock valued at $682,000 after acquiring an additional 3,400 shares during the period. GAMMA Investing LLC increased its position in shares of Adaptive Biotechnologies by 36.5% in the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock valued at $100,000 after acquiring an additional 3,583 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in Adaptive Biotechnologies by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock worth $414,000 after purchasing an additional 3,650 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock traded down $0.31 during mid-day trading on Monday, reaching $12.54. The stock had a trading volume of 1,732,640 shares, compared to its average volume of 2,022,939. Adaptive Biotechnologies Corporation has a one year low of $3.98 and a one year high of $13.52. The company has a 50-day moving average price of $11.84 and a two-hundred day moving average price of $9.78. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -15.29 and a beta of 1.93.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $49.40 million. During the same period in the previous year, the company earned ($0.31) earnings per share. The firm's quarterly revenue was up 36.3% on a year-over-year basis. On average, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler raised their target price 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 raised their target price 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. JPMorgan Chase & Co. raised their target price 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. Finally, Craig Hallum began coverage on shares of Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price target for the company. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.38.

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.