IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $71,000 in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,750 shares of the company’s stock, valued at approximately $71,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADPT. Manchester Capital Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at approximately $32,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Adaptive Biotechnologies in the first quarter valued at $46,000. First Trust Direct Indexing L.P. acquired a new stake in Adaptive Biotechnologies in the 1st quarter valued at about $47,000. Nisa Investment Advisors LLC raised its stake in Adaptive Biotechnologies by 769.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after acquiring an additional 11,852 shares during the period. Finally, Personal CFO Solutions LLC bought a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Ratings Changes

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

Adaptive Biotechnologies Stock Down 1.3 %

Shares of Adaptive Biotechnologies stock traded down $0.06 during trading on Friday, reaching $4.61. 395,005 shares of the stock were exchanged, compared to its average volume of 1,518,853. The stock’s fifty day moving average is $4.16 and its 200 day moving average is $3.62. The firm has a market cap of $679.37 million, a price-to-earnings ratio of -3.13 and a beta of 1.35. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $6.96.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.02. Adaptive Biotechnologies had a negative return on equity of 57.43% and a negative net margin of 126.49%. The firm had revenue of $43.19 million during the quarter, compared to analyst estimates of $38.63 million. During the same quarter in the previous year, the firm earned ($0.33) EPS. Adaptive Biotechnologies’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities analysts forecast that Adaptive Biotechnologies Co. will post -1.29 earnings per share for the current year.

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.