Los Angeles Capital Management LLC Boosts Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Los Angeles Capital Management LLC raised its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 104.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,159 shares of the company’s stock after purchasing an additional 22,527 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Adaptive Biotechnologies were worth $160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Adaptive Biotechnologies by 0.8% during the first quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company’s stock worth $41,312,000 after purchasing an additional 102,134 shares in the last quarter. ARK Investment Management LLC lifted its position in Adaptive Biotechnologies by 8.1% during the 2nd quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock worth $41,311,000 after acquiring an additional 850,704 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Adaptive Biotechnologies by 11.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock worth $24,977,000 after acquiring an additional 722,924 shares during the period. Rubric Capital Management LP acquired a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $14,027,000. Finally, Braidwell LP grew its position in Adaptive Biotechnologies by 40.3% in the fourth quarter. Braidwell LP now owns 1,357,490 shares of the company’s stock valued at $6,652,000 after acquiring an additional 389,800 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their target price on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.40.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $4.59 on Tuesday. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $6.34. The stock has a 50-day moving average price of $4.40 and a 200 day moving average price of $3.65. The company has a market capitalization of $676.89 million, a P/E ratio of -3.08 and a beta of 1.42.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Thursday, August 1st. The company reported ($0.31) EPS for the quarter, beating 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 company had revenue of $43.19 million during the quarter, compared to analysts’ expectations of $38.63 million. During the same period in the prior year, the business posted ($0.33) EPS. The business’s revenue was down 11.7% on a year-over-year basis. As a group, equities research analysts forecast that Adaptive Biotechnologies Co. will post -1.19 earnings per share 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.