Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 50.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,912,027 shares of the company’s stock after purchasing an additional 1,319,709 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.65% of Adaptive Biotechnologies worth $14,162,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ADPT. Manchester Capital Management LLC acquired a new position in shares of Adaptive Biotechnologies during the 1st quarter worth $32,000. Rothschild Investment LLC purchased a new position in Adaptive Biotechnologies during the 2nd quarter valued at about $36,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Adaptive Biotechnologies during the first quarter worth about $46,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Adaptive Biotechnologies in the first quarter valued at about $47,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Adaptive Biotechnologies by 769.6% in the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after purchasing an additional 11,852 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.40.

Adaptive Biotechnologies Trading Down 2.7 %

Shares of ADPT stock opened at $4.65 on Friday. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $6.34. The company has a market capitalization of $685.26 million, a price-to-earnings ratio of -3.12 and a beta of 1.42. The firm has a 50-day moving average price of $4.47 and a 200 day moving average price of $3.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced 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. 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 company’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. As a group, research analysts predict 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.