Impact Partnership Wealth LLC Makes New $62,000 Investment in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Impact Partnership Wealth LLC acquired a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,154 shares of the company’s stock, valued at approximately $62,000.

A number of other institutional investors have also recently added to or reduced their stakes in ADPT. Victory Capital Management Inc. raised its stake in shares of Adaptive Biotechnologies by 22.5% in the 4th quarter. Victory Capital Management Inc. now owns 19,087 shares of the company’s stock valued at $94,000 after purchasing an additional 3,509 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Adaptive Biotechnologies by 28.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,364 shares of the company’s stock valued at $105,000 after purchasing an additional 4,715 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Adaptive Biotechnologies by 1.9% in the 1st quarter. Essex Investment Management Co. LLC now owns 277,096 shares of the company’s stock valued at $889,000 after purchasing an additional 5,183 shares in the last quarter. Versor Investments LP raised its stake in shares of Adaptive Biotechnologies by 32.1% in the 4th quarter. Versor Investments LP now owns 25,100 shares of the company’s stock valued at $123,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Manchester Capital Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $4.35 on Friday. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $6.86. The firm has a 50-day simple moving average of $4.28 and a 200 day simple moving average of $3.64. The company has a market cap of $641.05 million, a PE ratio of -2.92 and a beta of 1.35.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $43.19 million during the quarter, compared to the consensus estimate of $38.63 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, research analysts forecast that Adaptive Biotechnologies Co. will post -1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their target price on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.40.

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.