Driehaus Capital Management LLC Has $15.99 Million Stake in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Driehaus Capital Management LLC increased its stake in Adaptive Biotechnologies by 154.4% in the first quarter, acquiring over 1.3 million additional shares.
• As of the most recent filing, institutional investors own 99.17% of Adaptive Biotechnologies' stock, indicating a strong interest from large investors.
• Analysts have revised price targets for Adaptive Biotechnologies, with estimates ranging from $9.00 to $15.00, reflecting a consensus of optimism for the company's growth.

Driehaus Capital Management LLC increased its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 154.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,152,335 shares of the company's stock after acquiring an additional 1,306,164 shares during the period. Driehaus Capital Management LLC owned about 1.42% of Adaptive Biotechnologies worth $15,992,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ADPT. Wells Fargo & Company MN raised its holdings in Adaptive Biotechnologies by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 69,286 shares of the company's stock worth $415,000 after acquiring an additional 14,807 shares in the last quarter. Invesco Ltd. raised its holdings in Adaptive Biotechnologies by 3.0% during the fourth 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. Barclays PLC raised its holdings in Adaptive Biotechnologies by 15.6% during the fourth quarter. Barclays PLC now owns 266,066 shares of the company's stock worth $1,596,000 after acquiring an additional 35,889 shares in the last quarter. First Trust Advisors LP bought a new stake in Adaptive Biotechnologies during the fourth quarter worth about $99,000. Finally, Dimensional Fund Advisors LP raised its holdings in Adaptive Biotechnologies by 12.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock worth $9,622,000 after acquiring an additional 183,881 shares in the last quarter. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT traded up $0.17 during trading on Thursday, reaching $13.02. 3,053,771 shares of the company's stock were exchanged, compared to its average volume of 1,931,051. The business has a 50 day moving average price of $11.81 and a 200-day moving average price of $9.73. The stock has a market capitalization of $1.98 billion, a P/E ratio of -15.88 and a beta of 1.93. Adaptive Biotechnologies Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $13.52.

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

Wall Street Analysts Forecast Growth

ADPT has been the topic of several analyst reports. TD Cowen upped their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. upped their target price on Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Craig Hallum initiated coverage on Adaptive Biotechnologies in a research report on Wednesday, June 18th. They set a "buy" rating and a $15.00 price target on the stock. Finally, Piper Sandler boosted their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.38.

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.