Susquehanna Fundamental Investments LLC Boosts Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Susquehanna Fundamental Investments LLC grew its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 55.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,276 shares of the company’s stock after purchasing an additional 12,180 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Adaptive Biotechnologies were worth $124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ADPT. Personal CFO Solutions LLC bought a new stake in Adaptive Biotechnologies during the 4th quarter valued at $55,000. Avenir Corp lifted its holdings in Adaptive Biotechnologies by 117.1% during the 4th quarter. Avenir Corp now owns 66,365 shares of the company’s stock worth $325,000 after purchasing an additional 35,800 shares in the last quarter. Braidwell LP boosted its stake in Adaptive Biotechnologies by 40.3% in the 4th quarter. Braidwell LP now owns 1,357,490 shares of the company’s stock worth $6,652,000 after purchasing an additional 389,800 shares during the period. Clear Street Markets LLC bought a new position in Adaptive Biotechnologies in the 4th quarter worth about $100,000. Finally, First Trust Direct Indexing L.P. purchased a new position in Adaptive Biotechnologies during the 1st quarter valued at about $47,000. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Up 9.1 %

ADPT stock opened at $5.52 on Friday. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $5.55. The stock has a market cap of $813.47 million, a price-to-earnings ratio of -3.70 and a beta of 1.44. The company’s 50 day moving average is $4.59 and its 200 day moving average is $3.77.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Thursday, August 1st. The company reported ($0.31) 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 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 firm’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. As a group, sell-side analysts forecast that Adaptive Biotechnologies Co. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ADPT shares. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

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.