702,711 Shares in Adaptive Biotechnologies Corporation $ADPT Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC bought a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the second quarter, Holdings Channel reports. The fund bought 702,711 shares of the company’s stock, valued at approximately $8,187,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Adaptive Biotechnologies by 4.0% during the first quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company’s stock worth $82,796,000 after buying an additional 428,540 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Adaptive Biotechnologies by 801.6% during the first quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company’s stock worth $49,355,000 after buying an additional 5,905,756 shares in the last quarter. Braidwell LP bought a new stake in Adaptive Biotechnologies during the first quarter worth approximately $35,692,000. Driehaus Capital Management LLC boosted its holdings in Adaptive Biotechnologies by 154.4% during the first quarter. Driehaus Capital Management LLC now owns 2,152,335 shares of the company’s stock worth $15,992,000 after buying an additional 1,306,164 shares in the last quarter. Finally, Iron Triangle Partners LP bought a new stake in Adaptive Biotechnologies during the first quarter worth approximately $15,856,000. 99.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of research reports. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of Adaptive Biotechnologies from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. TD Cowen raised their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Guggenheim began coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.22.

Adaptive Biotechnologies Stock Down 0.6%

ADPT stock opened at $17.12 on Tuesday. Adaptive Biotechnologies Corporation has a 12-month low of $4.27 and a 12-month high of $17.89. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -20.88 and a beta of 2.06. The company has a 50 day moving average of $14.17 and a two-hundred day moving average of $11.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company had revenue of $49.94 million during the quarter, compared to the consensus estimate of $49.40 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The company’s revenue was up 36.3% compared to the same quarter last year. On average, research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS 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.