US Bancorp DE Acquires 71,065 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

US Bancorp DE lifted its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 77.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,106 shares of the company’s stock after buying an additional 71,065 shares during the period. US Bancorp DE’s holdings in Adaptive Biotechnologies were worth $835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ADPT. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth about $26,000. Rothschild Investment LLC acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth about $36,000. MQS Management LLC acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth about $36,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Adaptive Biotechnologies during the first quarter worth about $46,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Adaptive Biotechnologies by 769.6% during the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after buying an additional 11,852 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT opened at $5.82 on Friday. The stock has a 50 day moving average price of $4.81 and a 200 day moving average price of $4.15. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $6.33.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.08. Adaptive Biotechnologies had a negative return on equity of 60.99% and a negative net margin of 126.49%. The firm had revenue of $46.44 million during the quarter, compared to analysts’ expectations of $40.59 million. As a group, sell-side analysts predict that Adaptive Biotechnologies Co. will post -1.19 earnings per share for the current year.

Analyst Ratings Changes

ADPT has been the subject of several recent research reports. BTIG Research upped their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price target on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

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.