PDT Partners LLC Boosts Stock Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• PDT Partners LLC has increased its stake in Adaptive Biotechnologies Corporation by 9.1%, now owning approximately 0.23% of the company valued at $2.563 million.
• Analysts have raised price targets for Adaptive Biotechnologies, with seven giving it a Buy rating and a consensus target price of $12.38.
• In its recent earnings report, Adaptive Biotechnologies beat consensus EPS estimates, posting ($0.17) earnings per share, and reported a 36.3% year-over-year revenue increase to $49.94 million.

PDT Partners LLC lifted its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 9.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 344,978 shares of the company's stock after buying an additional 28,697 shares during the quarter. PDT Partners LLC owned about 0.23% of Adaptive Biotechnologies worth $2,563,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 buying an additional 428,540 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Adaptive Biotechnologies by 801.6% in the first quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company's stock worth $49,355,000 after buying an additional 5,905,756 shares during the period. Braidwell LP bought a new position in shares of Adaptive Biotechnologies in the first quarter worth about $35,692,000. Soleus Capital Management L.P. raised its stake 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 valued at $17,884,000 after purchasing an additional 1,870,393 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in Adaptive Biotechnologies by 154.4% during the 1st quarter. Driehaus Capital Management LLC now owns 2,152,335 shares of the company's stock valued at $15,992,000 after purchasing an additional 1,306,164 shares during the period. Institutional investors own 99.17% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ADPT shares. Craig Hallum started coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They set a "buy" rating and a $15.00 target price on the stock. Piper Sandler lifted their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. TD Cowen lifted their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Seven research 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.38.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock traded down $0.17 on Friday, reaching $12.85. The company had a trading volume of 1,374,014 shares, compared to its average volume of 1,830,376. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -15.67 and a beta of 1.93. The firm's 50-day moving average price is $11.84 and its two-hundred day moving average price is $9.76. Adaptive Biotechnologies Corporation has a 1 year low of $3.98 and a 1 year high of $13.52.

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