KLP Kapitalforvaltning AS Grows Stock Holdings in Adaptive Biotechnologies Corporation $ADPT

KLP Kapitalforvaltning AS increased its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 42.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the company’s stock after buying an additional 7,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Adaptive Biotechnologies were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL purchased a new stake in Adaptive Biotechnologies during the first quarter worth about $84,000. Personal CFO Solutions LLC purchased a new stake in Adaptive Biotechnologies during the first quarter worth about $84,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Adaptive Biotechnologies during the first quarter worth about $87,000. Candriam S.C.A. acquired a new position in Adaptive Biotechnologies during the first quarter worth about $90,000. Finally, Caxton Associates LLP acquired a new position in Adaptive Biotechnologies during the first quarter worth about $93,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $16.30 on Monday. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -19.88 and a beta of 2.06. The company’s 50 day simple moving average is $13.63 and its 200 day simple moving average is $11.11. Adaptive Biotechnologies Corporation has a 1 year low of $4.27 and a 1 year high of $17.62.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.07. The business had revenue of $49.94 million for the quarter, compared to the consensus estimate of $49.40 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. Equities analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADPT. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Adaptive Biotechnologies from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Guggenheim began coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price for the company. TD Cowen lifted their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Piper Sandler lifted their target price on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.11.

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.