Canada Pension Plan Investment Board Makes New $98,000 Investment in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Canada Pension Plan Investment Board acquired a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 2nd quarter, Holdings Channel reports. The firm acquired 27,200 shares of the company’s stock, valued at approximately $98,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Adaptive Biotechnologies by 0.8% in the first quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company’s stock valued at $41,312,000 after purchasing an additional 102,134 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Adaptive Biotechnologies by 8.1% in the 2nd quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock valued at $41,311,000 after buying an additional 850,704 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position 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 valued at $24,977,000 after buying an additional 722,924 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Adaptive Biotechnologies by 50.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after buying an additional 1,319,709 shares during the period. Finally, Rubric Capital Management LP bought a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $14,027,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

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

Adaptive Biotechnologies Trading Up 2.0 %

NASDAQ:ADPT opened at $5.00 on Friday. The firm’s 50 day moving average is $4.50 and its 200 day moving average is $3.70. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $5.73. The stock has a market capitalization of $736.84 million, a PE ratio of -3.36 and a beta of 1.42.

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