Crosslink Capital Inc. bought a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $242,000. Adaptive Biotechnologies comprises 0.1% of Crosslink Capital Inc.’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in ADPT. Hudock Capital Group LLC acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at $62,000. AGF Investments Inc. acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at $121,000. GSA Capital Partners LLP acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at $290,000. Landscape Capital Management L.L.C. acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at $316,000. Finally, SG Americas Securities LLC acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at $724,000. 62.83% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ADPT traded down $0.76 during midday trading on Friday, hitting $39.00. 4,560 shares of the company’s stock traded hands, compared to its average volume of 414,107. The firm has a fifty day moving average price of $43.10. Adaptive Biotechnologies Corporation has a twelve month low of $34.11 and a twelve month high of $55.12.

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

ADPT has been the topic of a number of research analyst reports. BTIG Research initiated coverage on shares of Adaptive Biotechnologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $46.00 price target on the stock. Goldman Sachs Group initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They issued a “neutral” rating and a $32.00 price target on the stock. Bank of America initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They issued a “buy” rating and a $45.00 price target on the stock. Cowen initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They issued an “outperform” rating on the stock. Finally, Guggenheim initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, July 22nd. They issued a “buy” rating and a $47.00 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.00.

In other Adaptive Biotechnologies news, insider Nancy Louise Hill bought 11,200 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average price of $20.00 per share, for a total transaction of $224,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Viking Global Performance Llc bought 250,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average price of $20.00 per share, for a total transaction of $5,000,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 262,200 shares of company stock worth $5,244,000 in the last 90 days. 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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