Adaptive Biotechnologies Co. (NASDAQ:ADPT) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,132 shares of the company’s stock after acquiring an additional 64,788 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.31% of Adaptive Biotechnologies worth $1,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Adaptive Biotechnologies by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company’s stock valued at $41,312,000 after acquiring an additional 102,134 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 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. Rubric Capital Management LP bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at approximately $14,027,000. Braidwell LP grew its stake in shares of Adaptive Biotechnologies by 40.3% in the 4th quarter. Braidwell LP now owns 1,357,490 shares of the company’s stock valued at $6,652,000 after buying an additional 389,800 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its stake in shares of Adaptive Biotechnologies by 1.9% in the 1st quarter. Essex Investment Management Co. LLC now owns 277,096 shares of the company’s stock valued at $889,000 after buying an additional 5,183 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research note 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 data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus target price of $6.40.

Adaptive Biotechnologies Stock Down 0.4 %

Shares of Adaptive Biotechnologies stock opened at $4.61 on Thursday. The stock has a market capitalization of $679.37 million, a P/E ratio of -3.09 and a beta of 1.42. The stock has a 50 day moving average price of $4.44 and a two-hundred day moving average price of $3.66. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $6.34.

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