Aberdeen Group plc Sells 166,563 Shares of Adaptive Biotechnologies Corporation $ADPT

Key Points

• Aberdeen Group plc has reduced its stake in Adaptive Biotechnologies by 13.9%, selling 166,563 shares and now owning approximately 1,031,059 shares valued at $12 million.
• Adaptive Biotechnologies reported a 36.3% increase in revenue for the recent quarter, amounting to $49.94 million, and surpassed earnings per share estimates, posting ($0.17) compared to the forecast of ($0.24).
• Wall Street analysts have mixed ratings on Adaptive Biotechnologies, with eight analysts issuing a “buy” rating and an average price target of $14.11, while one analyst rated it as a “sell.”

Aberdeen Group plc decreased its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,031,059 shares of the company's stock after selling 166,563 shares during the quarter. Aberdeen Group plc owned about 0.68% of Adaptive Biotechnologies worth $12,012,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew 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 during the period. Braidwell LP acquired a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $35,692,000. Iron Triangle Partners LP acquired a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $15,856,000. Victory Capital Management Inc. grew its position in shares of Adaptive Biotechnologies by 9,892.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company's stock worth $13,108,000 after buying an additional 1,746,571 shares during the period. Finally, Driehaus Capital Management LLC grew its position in shares of Adaptive Biotechnologies by 154.4% during the 1st 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 during the period. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

ADPT opened at $17.11 on Thursday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -20.87 and a beta of 2.06. The firm's fifty day moving average price is $13.45 and its two-hundred day moving average price is $10.93. Adaptive Biotechnologies Corporation has a 1 year low of $4.27 and a 1 year high of $17.14.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted 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 firm had revenue of $49.94 million for the quarter, compared to the consensus estimate of $49.40 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The business's revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.31) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Craig Hallum assumed 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. JPMorgan Chase & Co. lifted their price target on shares of Adaptive Biotechnologies from $14.00 to $17.00 and gave the company an "overweight" rating in a research report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. TD Cowen lifted their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Guggenheim initiated coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 30th. They issued a "buy" rating and a $20.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of "Moderate Buy" and an average price target of $14.11.

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.

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