Adaptive Biotechnologies Corporation $ADPT Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its holdings in Adaptive Biotechnologies Corporation by 63.4%, now owning approximately $1.17 million worth of shares following the sale of 272,794 shares.
• Wall Street analysts have upped their target prices for the company, with JPMorgan Chase raising it from $10.00 to $14.00 and Piper Sandler increasing theirs from $13.00 to $15.00, reflecting a consensus rating of "Moderate Buy."
• Adaptive Biotechnologies reported a 36.3% year-over-year increase in revenue to $49.94 million for the quarter, surpassing analyst expectations.

Algert Global LLC reduced its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 63.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,720 shares of the company's stock after selling 272,794 shares during the period. Algert Global LLC owned about 0.10% of Adaptive Biotechnologies worth $1,172,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in Adaptive Biotechnologies by 27.2% in the fourth quarter. Wells Fargo & Company MN now owns 69,286 shares of the company's stock valued at $415,000 after buying an additional 14,807 shares during the last quarter. Invesco Ltd. grew its position in shares of Adaptive Biotechnologies by 3.0% in the 4th quarter. Invesco Ltd. now owns 173,591 shares of the company's stock worth $1,041,000 after acquiring an additional 4,985 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Adaptive Biotechnologies by 902.9% in the 4th quarter. Legal & General Group Plc now owns 108,630 shares of the company's stock valued at $651,000 after acquiring an additional 97,798 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Adaptive Biotechnologies by 35.6% in the 4th quarter. Renaissance Technologies LLC now owns 229,785 shares of the company's stock valued at $1,378,000 after acquiring an additional 60,385 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Adaptive Biotechnologies by 15.6% during the 4th quarter. Barclays PLC now owns 266,066 shares of the company's stock valued at $1,596,000 after acquiring an additional 35,889 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ADPT shares. The Goldman Sachs Group raised their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Piper Sandler lifted their target price on 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 initiated coverage on Adaptive Biotechnologies in a report on Wednesday, June 18th. They set a "buy" rating and a $15.00 target price for the company. Finally, TD Cowen upped their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.38.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT traded up $0.24 on Thursday, hitting $13.21. The company's stock had a trading volume of 586,604 shares, compared to its average volume of 2,017,301. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.10 and a beta of 1.92. Adaptive Biotechnologies Corporation has a 12 month low of $3.98 and a 12 month high of $13.40. The stock's 50-day moving average is $11.57 and its two-hundred day moving average is $9.52.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.07. The business had revenue of $49.94 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned ($0.31) earnings per share. Equities analysts expect that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Adaptive Biotechnologies Company 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.