Russell Investments Group Ltd. Boosts Stock Position 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. lifted its holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 104.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,831 shares of the company's stock after acquiring 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 filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blair William & Co. IL bought a new position in Adaptive Biotechnologies in the 1st quarter valued at approximately $84,000. Personal CFO Solutions LLC bought a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $84,000. Wealth Enhancement Advisory Services LLC bought a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $87,000. Bridgefront Capital LLC bought a new position in Adaptive Biotechnologies during the 4th quarter worth approximately $80,000. Finally, GAMMA Investing LLC raised its holdings in Adaptive Biotechnologies by 36.5% during the 1st quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock worth $100,000 after purchasing an additional 3,583 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Down 1.0%

ADPT traded down $0.13 during midday trading on Friday, hitting $13.18. The stock had a trading volume of 2,423,871 shares, compared to its average volume of 2,268,630. The business has a fifty day moving average of $11.68 and a 200 day moving average of $9.62. 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 released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.07. The firm had revenue of $49.94 million during the quarter, compared to analyst estimates of $49.40 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The business's quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. On average, analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADPT has been the subject of several research reports. TD Cowen lifted their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Craig Hallum began coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price objective on the stock. Morgan Stanley lifted their target price on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Piper Sandler lifted 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. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.