Exchange Traded Concepts LLC Makes New Investment in Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

Exchange Traded Concepts LLC bought a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 85,277 shares of the company's stock, valued at approximately $634,000. Exchange Traded Concepts LLC owned approximately 0.06% of Adaptive Biotechnologies as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Voya Investment Management LLC grew its holdings in shares of Adaptive Biotechnologies by 6,121.7% during the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock worth $14,560,000 after purchasing an additional 2,389,674 shares during the last quarter. Soleus Capital Management L.P. boosted its position in Adaptive Biotechnologies by 168.1% during the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock worth $17,884,000 after buying an additional 1,870,393 shares during the period. Ameriprise Financial Inc. grew its holdings in Adaptive Biotechnologies by 794.0% during the 4th quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company's stock worth $4,417,000 after acquiring an additional 654,309 shares during the last quarter. Deutsche Bank AG increased its position in Adaptive Biotechnologies by 397.6% in the 4th quarter. Deutsche Bank AG now owns 630,577 shares of the company's stock valued at $3,783,000 after acquiring an additional 503,842 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Adaptive Biotechnologies by 17.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company's stock valued at $20,209,000 after acquiring an additional 489,555 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Trading Up 1.7%

NASDAQ ADPT traded up $0.18 during trading hours on Monday, hitting $10.56. 1,389,113 shares of the company's stock were exchanged, compared to its average volume of 1,568,904. The stock has a 50-day simple moving average of $9.08 and a 200 day simple moving average of $8.00. Adaptive Biotechnologies Corporation has a 1-year low of $3.22 and a 1-year high of $10.87.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 74.84% and a negative return on equity of 62.79%. The company had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. During the same quarter in the previous year, the business posted ($0.33) EPS. Adaptive Biotechnologies's revenue for the quarter was up 25.2% compared to the same quarter last year. Research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ADPT shares. Piper Sandler restated an "overweight" rating and issued a $13.00 price objective (up from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Craig Hallum initiated coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price target for the company. The Goldman Sachs Group raised their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley upped their target price on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.57.

Insider Activity

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the sale, the insider now owns 1,279,524 shares in the company, valued at approximately $9,404,501.40. The trade was a 5.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.40% of the company's stock.

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.