Adaptive Biotechnologies Corporation $ADPT Stock Holdings Lifted by Aberdeen Group plc

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 raised its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 19.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,197,622 shares of the company's stock after buying an additional 193,563 shares during the quarter. Aberdeen Group plc owned about 0.79% of Adaptive Biotechnologies worth $8,898,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake 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 purchasing an additional 428,540 shares during the last quarter. Soleus Capital Management L.P. grew its position in shares of Adaptive Biotechnologies by 168.1% during the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock valued at $17,884,000 after buying an additional 1,870,393 shares during the last quarter. Voya Investment Management LLC raised 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 acquiring an additional 2,389,674 shares during the period. Victory Capital Management Inc. lifted its holdings in 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 worth $13,108,000 after acquiring an additional 1,746,571 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Adaptive Biotechnologies by 12.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock valued at $9,622,000 after acquiring an additional 183,881 shares during the period. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock traded down $0.33 on Monday, hitting $12.67. The company had a trading volume of 1,157,872 shares, compared to its average volume of 2,201,750. Adaptive Biotechnologies Corporation has a 52 week low of $3.98 and a 52 week high of $13.40. The company has a market cap of $1.93 billion, a PE ratio of -15.45 and a beta of 1.92. The business has a 50-day simple moving average of $11.47 and a 200-day simple moving average of $9.48.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.07. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The firm had revenue of $49.94 million during the quarter, compared to analyst estimates of $49.40 million. During the same period last year, the company posted ($0.31) EPS. The firm's quarterly revenue was up 36.3% on a year-over-year basis. On average, equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADPT has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley increased their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Piper Sandler boosted their target price 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. 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 on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Adaptive Biotechnologies currently has a consensus rating of "Moderate Buy" and an average price target 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.