Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock Position Lifted by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 244.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,076 shares of the company’s stock after purchasing an additional 129,201 shares during the period. AQR Capital Management LLC owned about 0.12% of Adaptive Biotechnologies worth $635,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ADPT. Manchester Capital Management LLC acquired a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at about $32,000. MQS Management LLC acquired a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $36,000. Rothschild Investment LLC acquired a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $36,000. Nisa Investment Advisors LLC increased its holdings in shares of Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after acquiring an additional 11,852 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at about $46,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BTIG Research raised their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their target price on Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Adaptive Biotechnologies Stock Up 0.6 %

Shares of Adaptive Biotechnologies stock opened at $4.94 on Monday. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $5.80. The business has a fifty day simple moving average of $4.65 and a 200 day simple moving average of $3.85. The stock has a market cap of $728.00 million, a PE ratio of -3.32 and a beta of 1.44.

Adaptive Biotechnologies (NASDAQ:ADPT) last released 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. Adaptive Biotechnologies had a negative return on equity of 60.99% and a negative net margin of 126.49%. The business had revenue of $43.19 million for the quarter, compared to analyst estimates of $38.63 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Adaptive Biotechnologies’s revenue was down 11.7% on a year-over-year basis. Analysts expect that Adaptive Biotechnologies Co. will post -1.19 EPS for the current fiscal year.

About Adaptive Biotechnologies

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.