Trexquant Investment LP Buys 98,913 Shares of Adaptive Biotechnologies Corporation $ADPT

Key Points

• Trexquant Investment LP increased its stake in Adaptive Biotechnologies by 53.2%, owning 284,781 shares valued at approximately $2.12 million after acquiring 98,913 additional shares in the first quarter.
• Adaptive Biotechnologies reported $49.94 million in quarterly revenue, beating the consensus estimate of $49.40 million, with earnings per share at ($0.17), surpassing analysts' expectations.
• Research firms have set a target price of $15.00 for ADPT shares, with ratings indicating seven Buy ratings and one Hold rating, reflecting positive sentiment among analysts.

Trexquant Investment LP lifted its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 53.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 284,781 shares of the company's stock after purchasing an additional 98,913 shares during the period. Trexquant Investment LP owned 0.19% of Adaptive Biotechnologies worth $2,116,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Adaptive Biotechnologies by 36.5% in the 1st quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock valued at $100,000 after buying an additional 3,583 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Adaptive Biotechnologies in the 1st quarter valued at approximately $87,000. Janus Henderson Group PLC purchased a new position in Adaptive Biotechnologies in the 4th quarter valued at approximately $281,000. Exchange Traded Concepts LLC purchased a new position in Adaptive Biotechnologies in the 1st quarter valued at approximately $634,000. Finally, Two Sigma Investments LP grew its stake in Adaptive Biotechnologies by 251.1% in the 4th quarter. Two Sigma Investments LP now owns 183,838 shares of the company's stock valued at $1,102,000 after buying an additional 131,478 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Trading Down 1.5%

Shares of ADPT traded down $0.19 during mid-day trading on Wednesday, reaching $12.42. 1,779,262 shares of the stock traded hands, compared to its average volume of 1,698,661. Adaptive Biotechnologies Corporation has a 1 year low of $3.98 and a 1 year high of $13.52. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -15.15 and a beta of 1.93. The firm has a fifty day moving average price of $11.90 and a 200 day moving average price of $9.85.

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. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company had revenue of $49.94 million during the quarter, compared to the consensus estimate of $49.40 million. During the same period in the previous year, the firm posted ($0.31) EPS. The firm's revenue was up 36.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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. JPMorgan Chase & Co. lifted 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. Piper Sandler lifted 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, TD Cowen lifted 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. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.