Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC cut its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 64.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 25,000 shares of the company’s stock after selling 45,240 shares during the period. Moloney Securities Asset Management LLC’s holdings in Adaptive Biotechnologies were worth $90,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Manchester Capital Management LLC acquired a new position in Adaptive Biotechnologies in the first quarter valued at $32,000. Personal CFO Solutions LLC acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $55,000. Nisa Investment Advisors LLC lifted its holdings in shares of Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after acquiring an additional 11,852 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Adaptive Biotechnologies in the first quarter worth approximately $46,000. Finally, QRG Capital Management Inc. purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $4.70 on Friday. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $6.96. The firm has a market capitalization of $692.63 million, a P/E ratio of -3.15 and a beta of 1.35. The business’s 50-day simple moving average is $4.19 and its 200-day simple moving average is $3.62.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results 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 57.43%. The firm had revenue of $43.19 million for the quarter, compared to analysts’ expectations of $38.63 million. During the same period in the previous year, the company posted ($0.33) earnings per share. Adaptive Biotechnologies’s revenue was down 11.7% compared to the same quarter last year. On average, equities research analysts expect that Adaptive Biotechnologies Co. will post -1.29 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.