Teacher Retirement System of Texas acquired a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 95,296 shares of the company's stock, valued at approximately $708,000. Teacher Retirement System of Texas owned approximately 0.06% of Adaptive Biotechnologies at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new position in shares of Adaptive Biotechnologies in the first quarter worth $634,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Adaptive Biotechnologies in the first quarter worth about $87,000. GAMMA Investing LLC grew its position in Adaptive Biotechnologies by 36.5% in the 1st quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock valued at $100,000 after buying an additional 3,583 shares in the last quarter. Alpha Wealth Funds LLC acquired a new position in Adaptive Biotechnologies during the 1st quarter valued at about $297,000. Finally, Rhumbline Advisers raised its position in shares of Adaptive Biotechnologies by 4.0% during the 1st quarter. Rhumbline Advisers now owns 188,524 shares of the company's stock worth $1,401,000 after buying an additional 7,322 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on ADPT shares. Craig Hallum began coverage on shares of Adaptive Biotechnologies in a report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price objective for the company. Morgan Stanley lifted their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. The Goldman Sachs Group boosted their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $13.00 target price (up previously from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of "Moderate Buy" and an average target price of $10.57.
Get Our Latest Research Report on Adaptive Biotechnologies
Insider Transactions at Adaptive Biotechnologies
In related news, insider Harlan S. Robins sold 68,412 shares of Adaptive Biotechnologies stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $7.35, for a total transaction of $502,828.20. Following the sale, the insider directly owned 1,279,524 shares of the company's stock, valued at $9,404,501.40. This trade represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.40% of the company's stock.
Adaptive Biotechnologies Price Performance
NASDAQ:ADPT traded down $0.31 during midday trading on Thursday, reaching $10.53. The stock had a trading volume of 675,158 shares, compared to its average volume of 1,635,572. The stock has a market capitalization of $1.60 billion, a P/E ratio of -10.98 and a beta of 1.83. Adaptive Biotechnologies Corporation has a 1-year low of $3.85 and a 1-year high of $12.43. The firm's fifty day simple moving average is $10.34 and its 200-day simple moving average is $8.60.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.08. The business had revenue of $52.44 million during the quarter, compared to analysts' expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 62.79% and a negative net margin of 74.84%. The firm's revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) EPS. On average, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.
About Adaptive Biotechnologies
(
Free Report)
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.
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