Aberdeen Group plc Increases Stock Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Aberdeen Group plc increased its stake in Adaptive Biotechnologies by 19.3%, owning 1,197,622 shares valued at approximately $8.9 million.
• Adaptive Biotechnologies reported earnings of ($0.17) per share, beating expectations, with a revenue increase of 36.3% year-over-year to $49.94 million.
• Several hedge funds significantly boosted their positions in Adaptive Biotechnologies, leading to 99.17% of the company's ownership being held by institutional investors.

Aberdeen Group plc boosted its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 19.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,197,622 shares of the company's stock after buying an additional 193,563 shares during the quarter. Aberdeen Group plc owned 0.79% of Adaptive Biotechnologies worth $8,898,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ADPT. Voya Investment Management LLC boosted its stake in Adaptive Biotechnologies by 6,121.7% during the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock worth $14,560,000 after buying an additional 2,389,674 shares during the period. Soleus Capital Management L.P. boosted its stake 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 purchasing an additional 1,870,393 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Adaptive Biotechnologies by 9,892.2% in the first quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company's stock valued at $13,108,000 after purchasing an additional 1,746,571 shares during the period. Nuveen LLC purchased a new position in shares of Adaptive Biotechnologies in the first quarter valued at approximately $9,623,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Adaptive Biotechnologies in the first quarter valued at approximately $7,633,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Up 1.2%

Shares of NASDAQ:ADPT opened at $12.56 on Wednesday. The firm's 50 day moving average price is $11.29 and its 200 day moving average price is $9.33. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -15.32 and a beta of 1.92. Adaptive Biotechnologies Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $13.37.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $49.40 million. During the same quarter last year, the company earned ($0.31) earnings per share. The firm's revenue was up 36.3% compared to the same quarter last year. On average, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. 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 research note on Wednesday, August 6th. 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 research note on Wednesday, August 6th. Craig Hallum assumed coverage on shares of 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 company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley raised their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.