Vontobel Holding Ltd. Increases Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Vontobel Holding Ltd. raised its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 30.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,000 shares of the company’s stock after buying an additional 4,000 shares during the period. Vontobel Holding Ltd.’s holdings in Adaptive Biotechnologies were worth $87,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Millennium Management LLC boosted its holdings in Adaptive Biotechnologies by 1,008.3% in the second quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock valued at $33,530,000 after purchasing an additional 8,426,580 shares during the period. Rubric Capital Management LP boosted its stake in shares of Adaptive Biotechnologies by 33.3% in the 2nd quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company’s stock valued at $50,680,000 after buying an additional 3,500,000 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Adaptive Biotechnologies by 50.9% during the second 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 in the last quarter. ARK Investment Management LLC increased its stake in shares of Adaptive Biotechnologies by 8.1% during the second 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 period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Adaptive Biotechnologies by 11.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock valued at $24,977,000 after acquiring an additional 722,924 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

ADPT has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Adaptive Biotechnologies Trading Up 0.4 %

ADPT stock opened at $4.72 on Thursday. The stock has a market cap of $695.58 million, a P/E ratio of -3.17 and a beta of 1.44. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $5.80. The company’s 50 day moving average is $4.71 and its two-hundred day moving average is $3.94.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.31) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $43.19 million for the quarter, compared to analyst estimates of $38.63 million. During the same period last year, the business earned ($0.33) EPS. Adaptive Biotechnologies’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, equities research analysts predict that Adaptive Biotechnologies Co. will post -1.19 earnings per share for the current year.

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.