Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 95.6% during the 2nd quarter, Holdings Channel reports. The firm owned 57,272 shares of the company’s stock after selling 1,244,445 shares during the quarter. Federated Hermes Inc.’s holdings in Adaptive Biotechnologies were worth $207,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. American Century Companies Inc. grew its position in shares of Adaptive Biotechnologies by 18.3% in the second quarter. American Century Companies Inc. now owns 45,562 shares of the company’s stock valued at $165,000 after purchasing an additional 7,039 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Adaptive Biotechnologies by 104.1% in the second quarter. Los Angeles Capital Management LLC now owns 44,159 shares of the company’s stock worth $160,000 after buying an additional 22,527 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in shares of Adaptive Biotechnologies in the second quarter worth about $62,000. Rhumbline Advisers lifted its stake in shares of Adaptive Biotechnologies by 8.3% in the second quarter. Rhumbline Advisers now owns 188,285 shares of the company’s stock worth $682,000 after buying an additional 14,430 shares in the last quarter. Finally, DDD Partners LLC lifted its stake in shares of Adaptive Biotechnologies by 4.1% in the second quarter. DDD Partners LLC now owns 769,997 shares of the company’s stock worth $2,787,000 after buying an additional 30,258 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $4.17 on Wednesday. The firm’s 50-day moving average is $4.47 and its two-hundred day moving average is $3.69. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $6.34. The company has a market capitalization of $614.52 million, a PE ratio of -2.80 and a beta of 1.42.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. The business 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 period in the previous year, the firm earned ($0.33) EPS. Sell-side analysts forecast that Adaptive Biotechnologies Co. will post -1.19 EPS for the current 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.