Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 11.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,899,631 shares of the company’s stock after buying an additional 722,924 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Adaptive Biotechnologies were worth $24,977,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rubric Capital Management LP purchased a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $14,027,000. Braidwell LP grew its stake in shares of Adaptive Biotechnologies by 40.3% during the fourth quarter. Braidwell LP now owns 1,357,490 shares of the company’s stock worth $6,652,000 after purchasing an additional 389,800 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Adaptive Biotechnologies by 29.3% during the fourth quarter. Essex Investment Management Co. LLC now owns 271,913 shares of the company’s stock worth $1,332,000 after purchasing an additional 61,693 shares in the last quarter. Versor Investments LP increased its holdings in Adaptive Biotechnologies by 32.1% in the fourth quarter. Versor Investments LP now owns 25,100 shares of the company’s stock valued at $123,000 after buying an additional 6,100 shares during the last quarter. Finally, Personal CFO Solutions LLC acquired a new stake in Adaptive Biotechnologies in the fourth quarter valued at $55,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.40.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $4.81 on Tuesday. The firm’s fifty day moving average price is $3.93 and its 200 day moving average price is $3.56. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $6.96. The company has a market capitalization of $708.84 million, a price-to-earnings ratio of -3.23 and a beta of 1.35.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.02. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 57.43%. The company had revenue of $43.19 million during the quarter, compared to the consensus estimate of $38.63 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. Adaptive Biotechnologies’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Adaptive Biotechnologies Co. will post -1.29 earnings per share for the current year.

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.