B. Riley Wealth Advisors Inc. Acquires Shares of 13,500 Adaptive Biotechnologies Co. (NASDAQ:ADPT)

B. Riley Wealth Advisors Inc. bought a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 13,500 shares of the company’s stock, valued at approximately $49,000.

Other large investors have also recently modified their holdings of the company. Manchester Capital Management LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at approximately $32,000. MQS Management LLC bought a new stake in shares of Adaptive Biotechnologies during the second quarter valued at approximately $36,000. Rothschild Investment LLC purchased a new stake in Adaptive Biotechnologies in the second quarter worth $36,000. Nisa Investment Advisors LLC raised its holdings in Adaptive Biotechnologies by 769.6% in the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after purchasing an additional 11,852 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Adaptive Biotechnologies during the first quarter valued at $46,000. Institutional investors own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ADPT shares. BTIG Research upped their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their target price on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock opened at $4.91 on Friday. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $5.80. The firm’s 50-day moving average is $4.64 and its 200 day moving average is $3.82. The stock has a market cap of $723.58 million, a price-to-earnings ratio of -3.30 and a beta of 1.44.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Thursday, August 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. On average, equities analysts expect that Adaptive Biotechnologies Co. will post -1.19 EPS for the current fiscal year.

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.