Deerfield Management Company L.P. Series C Buys 57,554 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Deerfield Management Company L.P. Series C boosted its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 88.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,841 shares of the company’s stock after buying an additional 57,554 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Adaptive Biotechnologies were worth $445,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC increased its position in shares of Adaptive Biotechnologies by 1.9% during the first quarter. Essex Investment Management Co. LLC now owns 277,096 shares of the company’s stock worth $889,000 after acquiring an additional 5,183 shares during the period. American Century Companies Inc. increased its holdings in Adaptive Biotechnologies by 18.3% during the 2nd quarter. American Century Companies Inc. now owns 45,562 shares of the company’s stock worth $165,000 after purchasing an additional 7,039 shares during the period. Manchester Capital Management LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $32,000. MQS Management LLC purchased a new stake in shares of Adaptive Biotechnologies in the 2nd quarter worth $36,000. Finally, Rothschild Investment LLC bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth $36,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $5.00 on Friday. The stock’s 50-day moving average is $4.50 and its 200 day moving average is $3.70. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $5.73. The company has a market cap of $736.84 million, a P/E ratio of -3.36 and a beta of 1.42.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. The firm had revenue of $43.19 million for the quarter, compared to the consensus estimate of $38.63 million. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 60.99%. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) EPS. On average, analysts anticipate that Adaptive Biotechnologies Co. will post -1.19 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.40.

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.