Invesco Ltd. Boosts Holdings in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Invesco Ltd. significantly increased its holdings in Adaptive Biotechnologies Corporation by 218.3%, now owning 552,531 shares valued at approximately $4.11 million.
• Adaptive Biotechnologies reported earnings of ($0.17) per share for the latest quarter, outperforming analysts' expectations and achieving a 36.3% increase in year-over-year revenue.
• Several analysts have raised their price targets for Adaptive Biotechnologies, with a consensus target now set at $12.38 alongside a "Moderate Buy" average rating.

Invesco Ltd. grew its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 218.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 552,531 shares of the company's stock after acquiring an additional 378,940 shares during the period. Invesco Ltd. owned about 0.36% of Adaptive Biotechnologies worth $4,105,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Adaptive Biotechnologies by 4.0% in 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 period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Adaptive Biotechnologies by 39.1% during the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 49,413 shares of the company's stock worth $367,000 after purchasing an additional 13,892 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth about $84,000. US Bancorp DE increased its stake in shares of Adaptive Biotechnologies by 12.4% during the first quarter. US Bancorp DE now owns 134,051 shares of the company's stock worth $996,000 after purchasing an additional 14,764 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth about $155,000. Institutional investors and hedge funds own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT traded up $0.01 during trading hours on Wednesday, hitting $12.85. 1,797,203 shares of the company's stock traded hands, compared to its average volume of 2,173,606. Adaptive Biotechnologies Corporation has a 52-week low of $3.98 and a 52-week high of $13.52. The company has a market capitalization of $1.96 billion, a PE ratio of -15.67 and a beta of 1.93. The firm's 50-day moving average is $11.80 and its 200-day moving average is $9.70.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $49.94 million during the quarter, compared to analysts' expectations of $49.40 million. During the same quarter in the prior year, the company earned ($0.31) EPS. Adaptive Biotechnologies's revenue was up 36.3% compared to the same quarter last year. Equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on ADPT. TD Cowen boosted their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price 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 boosted their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Craig Hallum began coverage on shares of Adaptive Biotechnologies in a research note on Wednesday, June 18th. They set a "buy" rating and a $15.00 target price for the company. Seven equities 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 presently has a consensus rating of "Moderate Buy" and an average 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.