Russell Investments Group Ltd. Has $1.23 Million Stock Holdings in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Russell Investments Group Ltd. increased its stake in Adaptive Biotechnologies Corporation by 104.7%, holding 165,831 shares valued at approximately $1.23 million as of the latest SEC filing.
• Adaptive Biotechnologies reported a quarterly revenue of $49.94 million, exceeding analysts' expectations, and demonstrated a substantial year-over-year revenue growth of 36.3%.
• Multiple analysts have raised their price targets for Adaptive Biotechnologies, with JPMorgan Chase lifting it from $10.00 to $14.00 and TD Cowen setting a target of $15.00, indicating strong buy sentiments from research firms.

Russell Investments Group Ltd. grew its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 104.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 165,831 shares of the company's stock after purchasing an additional 84,837 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of Adaptive Biotechnologies worth $1,232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new position in Adaptive Biotechnologies in the 1st quarter worth about $9,623,000. Invesco Ltd. grew its position in Adaptive Biotechnologies by 218.3% in the 1st quarter. Invesco Ltd. now owns 552,531 shares of the company's stock worth $4,105,000 after purchasing an additional 378,940 shares during the last quarter. Vanguard Group Inc. grew its position in Adaptive Biotechnologies by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company's stock worth $82,796,000 after purchasing an additional 428,540 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Adaptive Biotechnologies by 39.1% in the 1st 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 during the last quarter. Finally, Blair William & Co. IL bought a new position in Adaptive Biotechnologies in the 1st quarter worth about $84,000. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT traded up $0.01 during mid-day trading on Wednesday, hitting $12.85. The stock had a trading volume of 1,797,203 shares, compared to its average volume of 2,173,606. The company has a market cap of $1.96 billion, a PE ratio of -15.67 and a beta of 1.93. Adaptive Biotechnologies Corporation has a 12-month low of $3.98 and a 12-month high of $13.52. The company'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 issued its quarterly earnings results 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 during 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 firm's quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.31) EPS. On average, equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADPT shares. Piper Sandler upped their target price 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. 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. TD Cowen increased their target price on shares of 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. increased their target price on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.