Jacobs Levy Equity Management Inc. Trims Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Adaptive Biotechnologies Corporation by 22% in Q1, selling 33,002 shares to end with 117,069 shares valued at approximately $870,000.
• Adaptive Biotechnologies reported a quarterly EPS of ($0.17), beating estimates, with revenue of $49.94 million, which grew by 36.3% year-over-year.
• Brokerages have a consensus rating of "Moderate Buy" for Adaptive Biotechnologies, with seven analysts recommending a buy and a price target increase from $10 to $15 from multiple firms.

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 22.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 117,069 shares of the company's stock after selling 33,002 shares during the period. Jacobs Levy Equity Management Inc. owned 0.08% of Adaptive Biotechnologies worth $870,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Personal CFO Solutions LLC purchased a new position in Adaptive Biotechnologies during the 1st quarter valued at about $84,000. Blair William & Co. IL purchased a new position in Adaptive Biotechnologies during the 1st quarter valued at about $84,000. Wealth Enhancement Advisory Services LLC purchased a new position in Adaptive Biotechnologies during the 1st quarter valued at about $87,000. Candriam S.C.A. purchased a new position in Adaptive Biotechnologies during the 1st quarter valued at about $90,000. Finally, Quantinno Capital Management LP purchased a new position in Adaptive Biotechnologies during the 4th quarter valued at about $100,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

ADPT stock opened at $13.49 on Friday. The firm's fifty day simple moving average is $11.93 and its 200-day simple moving average is $9.88. The company has a market capitalization of $2.05 billion, a P/E ratio of -16.45 and a beta of 1.93. Adaptive Biotechnologies Corporation has a 12 month low of $3.98 and a 12 month high of $13.68.

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, beating the consensus estimate of ($0.24) by $0.07. The business had revenue of $49.94 million for the quarter, compared to the consensus estimate of $49.40 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The business's revenue for the quarter was up 36.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.31) EPS. As a group, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADPT. Craig Hallum began coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. TD Cowen lifted their price objective 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Adaptive Biotechnologies from $10.00 to $14.00 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's stock. According to data from MarketBeat.com, the company 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.

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