Ieq Capital LLC Invests $367,000 in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Ieq Capital LLC has invested approximately $367,000 in Adaptive Biotechnologies Corporation, acquiring 49,350 shares during Q1.
• The company's recent earnings report showed a revenue increase of 36.3% year-over-year, with an EPS of ($0.17), surpassing analyst expectations.
• Brokerage firms have raised their price targets for Adaptive Biotechnologies, with multiple analysts recommending the stock as a "buy" or "overweight" investment.

Ieq Capital LLC purchased a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 49,350 shares of the company's stock, valued at approximately $367,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Adaptive Biotechnologies by 4.0% during the first quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company's stock worth $82,796,000 after acquiring an additional 428,540 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Adaptive Biotechnologies by 801.6% during the first quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company's stock worth $49,355,000 after acquiring an additional 5,905,756 shares during the last quarter. Soleus Capital Management L.P. grew its stake in shares of Adaptive Biotechnologies by 168.1% during the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock worth $17,884,000 after acquiring an additional 1,870,393 shares during the last quarter. Victory Capital Management Inc. boosted its position in Adaptive Biotechnologies by 9,892.2% in the first quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company's stock valued at $13,108,000 after buying an additional 1,746,571 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Adaptive Biotechnologies by 12.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock valued at $9,622,000 after buying an additional 183,881 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Trading Up 8.6%

Adaptive Biotechnologies stock traded up $1.07 during mid-day trading on Thursday, hitting $13.49. The company had a trading volume of 3,092,417 shares, compared to its average volume of 1,669,652. Adaptive Biotechnologies Corporation has a 12-month low of $3.98 and a 12-month high of $13.68. The company's fifty day moving average is $11.93 and its 200-day moving average is $9.88. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -16.45 and a beta of 1.93.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, topping 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 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 firm posted ($0.31) EPS. The business's quarterly revenue was up 36.3% compared to the same quarter last year. As a group, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler upped their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. TD Cowen upped their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upped their target price on Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, Craig Hallum assumed coverage on Adaptive Biotechnologies in a research report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.