Vanguard Group Inc. Boosts Stake in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Vanguard Group Inc. increased its stake in Adaptive Biotechnologies by 4.0%, owning approximately 7.34% of the company, worth around $82.8 million after acquiring an additional 428,540 shares.
• A range of other hedge funds also expanded their positions significantly, with Voya Investment Management increasing by an astonishing 6,121.7% during the fourth quarter.
• Analysts have given Adaptive Biotechnologies a consensus rating of "Moderate Buy" with an average price target of $12.38, with seven analysts rating it a Buy and one a Hold.

Vanguard Group Inc. raised its holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,143,428 shares of the company's stock after buying an additional 428,540 shares during the quarter. Vanguard Group Inc. owned about 7.34% of Adaptive Biotechnologies worth $82,796,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bridgefront Capital LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $80,000. Personal CFO Solutions LLC bought a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $84,000. Blair William & Co. IL bought a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $84,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $87,000. Finally, Walleye Capital LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $94,000. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Trading Down 1.0%

NASDAQ:ADPT traded down $0.13 during trading hours on Friday, reaching $13.18. 2,423,871 shares of the company traded hands, compared to its average volume of 2,232,985. The business's 50-day moving average price is $11.68 and its two-hundred day moving average price is $9.60. The stock has a market capitalization of $2.01 billion, a P/E ratio of -16.07 and a beta of 1.92. 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 announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.07. The business had revenue of $49.94 million during 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 firm's quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.31) earnings per share. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADPT shares. JPMorgan Chase & Co. lifted their price objective on Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. 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 lifted their price target on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. TD Cowen lifted their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Piper Sandler lifted their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Adaptive Biotechnologies currently has a consensus 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.