Braidwell LP Makes New Investment in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Braidwell LP has acquired a new stake in Adaptive Biotechnologies worth approximately $35.69 million, representing around 3.16% of the company's shares.
• Adaptive Biotechnologies reported a 36.3% increase in quarterly revenue year-over-year, totaling $49.94 million, while EPS exceeded analysts' estimates.
• Several analysts raised their price targets for Adaptive Biotechnologies, with most now rating it as a "Buy" or "Overweight", indicating positive sentiment about the company's growth prospects.

Braidwell LP purchased a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,803,794 shares of the company's stock, valued at approximately $35,692,000. Braidwell LP owned approximately 3.16% of Adaptive Biotechnologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridgefront Capital LLC bought a new stake in Adaptive Biotechnologies during the 4th quarter worth about $80,000. Personal CFO Solutions LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter worth about $84,000. Blair William & Co. IL bought a new stake in Adaptive Biotechnologies during the 1st quarter worth about $84,000. Wealth Enhancement Advisory Services LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter worth about $87,000. Finally, Candriam S.C.A. bought a new stake in Adaptive Biotechnologies during the 1st quarter worth about $90,000. 99.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ADPT. TD Cowen boosted their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Craig Hallum started coverage on shares of Adaptive Biotechnologies in a report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price on the stock. Piper Sandler upped their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.38.

Adaptive Biotechnologies Stock Performance

ADPT traded down $0.17 on Friday, reaching $12.85. The company had a trading volume of 1,374,014 shares, compared to its average volume of 1,830,376. Adaptive Biotechnologies Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $13.52. The stock has a market cap of $1.96 billion, a P/E ratio of -15.67 and a beta of 1.93. The company's fifty day moving average is $11.84 and its 200 day moving average is $9.76.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, beating 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 business had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. During the same quarter in the prior year, the business earned ($0.31) EPS. Adaptive Biotechnologies's quarterly revenue was up 36.3% on a year-over-year basis. On average, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

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.