Teacher Retirement System of Texas Acquires Shares of 95,296 Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

Teacher Retirement System of Texas purchased a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its stake in shares of Adaptive Biotechnologies by 6,121.7% during the 4th quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock worth $14,560,000 after purchasing an additional 2,389,674 shares in the last quarter. Soleus Capital Management L.P. boosted its position in Adaptive Biotechnologies by 168.1% during the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock worth $17,884,000 after acquiring an additional 1,870,393 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Adaptive Biotechnologies by 794.0% during the fourth quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company's stock worth $4,417,000 after acquiring an additional 654,309 shares during the last quarter. Deutsche Bank AG boosted its position in Adaptive Biotechnologies by 397.6% during the fourth quarter. Deutsche Bank AG now owns 630,577 shares of the company's stock worth $3,783,000 after acquiring an additional 503,842 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Adaptive Biotechnologies by 17.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company's stock worth $20,209,000 after acquiring an additional 489,555 shares during the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Trading Down 1.0%

Shares of NASDAQ ADPT traded down $0.11 during midday trading on Friday, reaching $10.39. The company's stock had a trading volume of 1,439,990 shares, compared to its average volume of 1,642,304. The company has a 50 day moving average price of $10.40 and a 200 day moving average price of $8.66. Adaptive Biotechnologies Corporation has a one year low of $3.85 and a one year high of $12.43. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -10.82 and a beta of 1.83.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 74.84% and a negative return on equity of 62.79%. The business had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. The firm's revenue was up 25.2% compared to the same quarter last year. Research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total value of $502,828.20. Following the completion of the sale, the insider directly owned 1,279,524 shares of the company's stock, valued at $9,404,501.40. The trade was a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Piper Sandler reiterated an "overweight" rating and issued a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. 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 target on the stock. Finally, The Goldman Sachs Group raised their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.57.

About Adaptive Biotechnologies

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.