Nuveen LLC Makes New Investment in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Nuveen LLC has made a significant investment in **Adaptive Biotechnologies Corporation**, acquiring **1,295,117 shares** valued at approximately **$9.62 million**, representing **0.85%** ownership of the company.
• The stock price of Adaptive Biotechnologies has risen **2.9%**, currently trading at **$13.00**, and has a **market cap** of **$1.98 billion**.
• Adaptive Biotechnologies reported better-than-expected quarterly earnings with a **36.3%** revenue increase year-over-year, and analysts project an EPS of **-0.92** for the current fiscal year.

Nuveen LLC acquired a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,295,117 shares of the company's stock, valued at approximately $9,623,000. Nuveen LLC owned approximately 0.85% of Adaptive Biotechnologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADPT. Bridgefront Capital LLC acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $80,000. Personal CFO Solutions LLC acquired a new stake in Adaptive Biotechnologies in the 1st quarter valued at approximately $84,000. Blair William & Co. IL acquired a new stake in Adaptive Biotechnologies in the 1st quarter valued at approximately $84,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Adaptive Biotechnologies in the 1st quarter valued at approximately $87,000. Finally, Walleye Capital LLC acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at approximately $94,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADPT. JPMorgan Chase & Co. raised their target price on Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Piper Sandler raised their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Craig Hallum initiated coverage on Adaptive Biotechnologies in a report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price on the stock. Morgan Stanley lifted their price objective on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, TD Cowen lifted their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Seven investment 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 stock has a consensus rating of "Moderate Buy" and an average target price of $12.38.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock traded down $0.13 on Friday, reaching $13.18. 2,423,871 shares of the stock were exchanged, compared to its average volume of 2,232,985. The stock has a market cap of $2.01 billion, a PE ratio of -16.07 and a beta of 1.92. Adaptive Biotechnologies Corporation has a one year low of $3.98 and a one year high of $13.52. The stock has a 50 day moving average price of $11.68 and a 200 day moving average price of $9.60.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.07. The company had revenue of $49.94 million during the quarter, compared to the consensus estimate of $49.40 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The firm's quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.31) earnings per share. On average, research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

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.