D.A. Davidson & CO. Sells 1,250 Shares of Adaptive Biotechnologies Corporation $ADPT

D.A. Davidson & CO. cut its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,600 shares of the company’s stock after selling 1,250 shares during the period. D.A. Davidson & CO.’s holdings in Adaptive Biotechnologies were worth $1,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Verdence Capital Advisors LLC boosted its stake in shares of Adaptive Biotechnologies by 6.8% during the second quarter. Verdence Capital Advisors LLC now owns 22,315 shares of the company’s stock valued at $260,000 after purchasing an additional 1,426 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in shares of Adaptive Biotechnologies by 8.2% during the first quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company’s stock valued at $160,000 after purchasing an additional 1,631 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Adaptive Biotechnologies by 9.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 32,038 shares of the company’s stock valued at $373,000 after acquiring an additional 2,880 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Adaptive Biotechnologies by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock valued at $511,000 after acquiring an additional 2,914 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Adaptive Biotechnologies by 36.5% in the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company’s stock valued at $100,000 after acquiring an additional 3,583 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Trading Down 0.6%

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

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly 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. The business had revenue of $49.94 million during the quarter, compared to analysts’ expectations of $49.40 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The business’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) earnings per share. As a group, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Cowen raised their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Piper Sandler raised their target price on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, Guggenheim assumed coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 30th. They issued a “buy” rating and a $20.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.22.

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.