Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Purchased by Rubric Capital Management LP

Rubric Capital Management LP lifted its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 33.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,000,000 shares of the company’s stock after purchasing an additional 3,500,000 shares during the quarter. Rubric Capital Management LP owned about 9.50% of Adaptive Biotechnologies worth $50,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC acquired a new stake in Adaptive Biotechnologies in the 1st quarter valued at approximately $32,000. MQS Management LLC bought a new position in Adaptive Biotechnologies during the 2nd quarter valued at $36,000. Rothschild Investment LLC bought a new position in Adaptive Biotechnologies during the 2nd quarter valued at $36,000. Personal CFO Solutions LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth $55,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after acquiring an additional 11,852 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Down 2.7 %

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 business’s fifty day moving average is $4.47 and its 200-day moving average is $3.68. The company has a market cap of $685.26 million, a P/E ratio of -3.12 and a beta of 1.42.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.02. The company 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%. Adaptive Biotechnologies’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.33) EPS. Research analysts anticipate that Adaptive Biotechnologies Co. will post -1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.40.

About Adaptive Biotechnologies

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.