Victory Capital Management Inc. Buys 1,746,571 Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

Victory Capital Management Inc. lifted its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 9,892.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,764,227 shares of the company's stock after purchasing an additional 1,746,571 shares during the period. Victory Capital Management Inc. owned 1.19% of Adaptive Biotechnologies worth $13,108,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Adaptive Biotechnologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company's stock worth $64,236,000 after purchasing an additional 75,448 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Adaptive Biotechnologies by 17.0% in 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 period. Soleus Capital Management L.P. raised 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 valued at $17,884,000 after purchasing an additional 1,870,393 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Adaptive Biotechnologies by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,684,506 shares of the company's stock worth $16,098,000 after purchasing an additional 22,628 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Adaptive Biotechnologies by 6,121.7% during the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock valued at $14,560,000 after purchasing an additional 2,389,674 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADPT. Morgan Stanley increased their price objective 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. Craig Hallum started coverage on Adaptive Biotechnologies in a research report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price on the stock. Piper Sandler reissued an "overweight" rating and set a $13.00 price objective (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research report 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, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and an average price target of $10.57.

Adaptive Biotechnologies Trading Up 0.8%

Shares of NASDAQ:ADPT traded up $0.09 during mid-day trading on Friday, reaching $10.75. The stock had a trading volume of 1,389,570 shares, compared to its average volume of 2,016,203. The company has a market cap of $1.63 billion, a P/E ratio of -11.20 and a beta of 1.83. The business's 50 day moving average price is $10.51 and its 200 day moving average price is $8.77. Adaptive Biotechnologies Corporation has a 1 year low of $3.85 and a 1 year high of $12.43.

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 (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.08. Adaptive Biotechnologies had a negative return on equity of 62.79% and a negative net margin of 74.84%. The company had revenue of $52.44 million for the quarter, compared to analysts' expectations of $42.13 million. During the same period in the previous year, the firm posted ($0.33) EPS. Adaptive Biotechnologies's revenue was up 25.2% compared to the same quarter last year. Analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Harlan S. Robins sold 68,412 shares of the company'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 owned 1,279,524 shares in the company, valued at approximately $9,404,501.40. This represents a 5.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by corporate insiders.

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.