Pictet Asset Management Ltd. Takes $18.11 Million Position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

Pictet Asset Management Ltd. bought a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 375,000 shares of the company’s stock, valued at approximately $18,113,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADPT. Hudock Capital Group LLC purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth $62,000. AGF Investments Inc. purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth $121,000. GSA Capital Partners LLP purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth $290,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth $316,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth $724,000. Institutional investors own 62.83% of the company’s stock.

Adaptive Biotechnologies stock traded up $3.44 during mid-day trading on Friday, hitting $43.20. 722,931 shares of the company’s stock were exchanged, compared to its average volume of 389,314. Adaptive Biotechnologies Corporation has a 1-year low of $34.11 and a 1-year high of $55.12. The business has a 50 day moving average price of $43.10.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, August 13th. The company reported ($1.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($1.08). The business had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $19.39 million. The business’s quarterly revenue was up 90.5% compared to the same quarter last year. Equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.63 EPS for the current year.

ADPT has been the subject of several recent research reports. Guggenheim initiated coverage on Adaptive Biotechnologies in a report on Monday, July 22nd. They set a “buy” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Adaptive Biotechnologies in a report on Monday, July 22nd. They set an “overweight” rating and a $45.00 price objective for the company. BTIG Research assumed coverage on Adaptive Biotechnologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $46.00 price objective for the company. William Blair assumed coverage on shares of Adaptive Biotechnologies in a research report on Monday, July 22nd. They set an “outperform” rating on the stock. Finally, Bank of America assumed coverage on shares of Adaptive Biotechnologies in a research report on Monday, July 22nd. They set a “buy” rating and a $45.00 target price on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Adaptive Biotechnologies has a consensus rating of “Buy” and a consensus target price of $43.00.

In other Adaptive Biotechnologies news, major shareholder Viking Global Performance Llc bought 250,000 shares of the stock in a transaction on Monday, July 1st. The shares were purchased at an average cost of $20.00 per share, with a total value of $5,000,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nancy Louise Hill bought 11,200 shares of the stock in a transaction on Monday, July 1st. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $224,000.00. The disclosure for this purchase can be found here. Insiders have acquired 262,200 shares of company stock worth $5,244,000 over the last three months. Company insiders own 34.70% of the company’s stock.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer research questions that inform current and future clinical trials, as well as to discover new prognostic and diagnostic signals.

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Institutional Ownership by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

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