Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock Holdings Lessened by Sei Investments Co.

Sei Investments Co. reduced its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 76.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,356 shares of the company’s stock after selling 49,461 shares during the quarter. Sei Investments Co.’s holdings in Adaptive Biotechnologies were worth $56,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ADPT. Massachusetts Financial Services Co. MA lifted its position in shares of Adaptive Biotechnologies by 50.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after buying an additional 1,319,709 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Adaptive Biotechnologies by 8.1% in the 2nd quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock worth $41,311,000 after buying an additional 850,704 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in 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 purchasing an additional 722,924 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Adaptive Biotechnologies in the 1st quarter valued at about $519,000. Finally, Vanguard Group Inc. lifted its position in Adaptive Biotechnologies by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company’s stock valued at $41,312,000 after purchasing an additional 102,134 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. BTIG Research lifted 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, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Adaptive Biotechnologies Trading Up 0.6 %

ADPT stock opened at $4.94 on Friday. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $5.80. The company has a market capitalization of $728.00 million, a price-to-earnings ratio of -3.32 and a beta of 1.44. The firm’s 50-day moving average is $4.65 and its two-hundred day moving average is $3.84.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 60.99%. The company had revenue of $43.19 million for the quarter, compared to the consensus estimate of $38.63 million. During the same period in the previous year, the firm earned ($0.33) EPS. Adaptive Biotechnologies’s revenue was down 11.7% on a year-over-year basis. On average, equities 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.