Strs Ohio Purchases New Stake in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Strs Ohio acquired 82,300 shares of Adaptive Biotechnologies Corporation, valued at approximately $611,000, representing a 0.05% ownership stake at the end of the last quarter.
• Analysts have upgraded their price targets for Adaptive Biotechnologies, with several firms setting targets between $14.00 and $15.00, all indicating an "overweight" or "buy" rating.
• Adaptive Biotechnologies reported a 36.3% year-over-year revenue growth for the latest quarter, with revenues of $49.94 million and an EPS of $(0.17), surpassing analyst expectations.

Strs Ohio bought a new stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 82,300 shares of the company's stock, valued at approximately $611,000. Strs Ohio owned approximately 0.05% of Adaptive Biotechnologies at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $84,000. Blair William & Co. IL bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $84,000. Wealth Enhancement Advisory Services LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $87,000. Candriam S.C.A. bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $90,000. Finally, Caxton Associates LLP bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $93,000. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Trading Up 1.7%

Shares of NASDAQ ADPT traded up $0.24 during mid-day trading on Tuesday, reaching $14.18. The company had a trading volume of 961,608 shares, compared to its average volume of 2,010,717. The stock has a market cap of $2.16 billion, a PE ratio of -17.31 and a beta of 1.93. The company has a 50-day moving average price of $12.12 and a two-hundred day moving average price of $10.16. Adaptive Biotechnologies Corporation has a 1-year low of $3.98 and a 1-year high of $14.48.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.07. The business had revenue of $49.94 million for 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 period in the previous year, the firm posted ($0.31) EPS. On average, research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ADPT shares. 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. 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. Piper Sandler boosted their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, TD Cowen boosted their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.38.

Adaptive Biotechnologies 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.