AlphaQuest LLC Has $284,000 Stock Position in Adaptive Biotechnologies Corporation $ADPT

AlphaQuest LLC raised its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 28.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,381 shares of the company’s stock after acquiring an additional 5,366 shares during the period. AlphaQuest LLC’s holdings in Adaptive Biotechnologies were worth $284,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. acquired a new position in Adaptive Biotechnologies in the 2nd quarter valued at approximately $524,000. Allianz Asset Management GmbH raised its holdings in Adaptive Biotechnologies by 519.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 79,300 shares of the company’s stock valued at $924,000 after acquiring an additional 66,500 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Adaptive Biotechnologies by 6.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 22,315 shares of the company’s stock valued at $260,000 after acquiring an additional 1,426 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Adaptive Biotechnologies by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,038 shares of the company’s stock valued at $373,000 after acquiring an additional 2,880 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in Adaptive Biotechnologies by 42.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 25,000 shares of the company’s stock valued at $291,000 after acquiring an additional 7,500 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Adaptive Biotechnologies from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, October 13th. Piper Sandler increased their target price on Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. Guggenheim started coverage on Adaptive Biotechnologies in a report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 target price for the company. Finally, TD Cowen increased their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.22.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $17.36 on Friday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -21.17 and a beta of 2.06. The business’s fifty day moving average price is $14.52 and its two-hundred day moving average price is $11.73. Adaptive Biotechnologies Corporation has a 52 week low of $4.27 and a 52 week high of $17.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. The firm had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The business’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period last year, the company earned ($0.31) EPS. As a group, research analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

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.