Adaptive Biotechnologies Corporation $ADPT Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 801.6% in the 1st quarter, HoldingsChannel reports. The fund owned 6,642,476 shares of the company’s stock after acquiring an additional 5,905,756 shares during the period. Ameriprise Financial Inc.’s holdings in Adaptive Biotechnologies were worth $49,355,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bridgefront Capital LLC purchased a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth $80,000. Personal CFO Solutions LLC purchased a new position in shares of Adaptive Biotechnologies in the 1st quarter valued at about $84,000. Blair William & Co. IL acquired a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth about $84,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Adaptive Biotechnologies during the first quarter worth approximately $87,000. Finally, Candriam S.C.A. purchased a new stake in Adaptive Biotechnologies during the first quarter worth approximately $90,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADPT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Morgan Stanley increased their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Craig Hallum assumed coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 18th. They issued a “buy” rating and a $15.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Piper Sandler lifted their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.38.

Adaptive Biotechnologies Stock Performance

Shares of Adaptive Biotechnologies stock opened at $12.97 on Thursday. The company has a market capitalization of $1.97 billion, a P/E ratio of -15.82 and a beta of 1.92. Adaptive Biotechnologies Corporation has a 1 year low of $3.98 and a 1 year high of $13.40. The company’s fifty day moving average is $11.57 and its two-hundred day moving average is $9.52.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate 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 business 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) earnings per share. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. As a group, equities analysts expect that Adaptive Biotechnologies Corporation will post -0.92 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.