Adaptive Biotechnologies Co. (NASDAQ:ADPT) Holdings Lowered by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 41.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,892 shares of the company's stock after selling 65,931 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of Adaptive Biotechnologies worth $563,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ADPT. KBC Group NV bought a new stake in Adaptive Biotechnologies in the fourth quarter worth approximately $50,000. Cibc World Markets Corp bought a new stake in Adaptive Biotechnologies in the 4th quarter valued at $65,000. Proficio Capital Partners LLC bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth about $93,000. Amundi lifted its holdings in shares of Adaptive Biotechnologies by 41.2% during the 4th quarter. Amundi now owns 15,532 shares of the company's stock worth $93,000 after acquiring an additional 4,531 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth about $94,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $9.29 on Wednesday. The firm has a market capitalization of $1.41 billion, a PE ratio of -8.52 and a beta of 1.75. The company's 50-day moving average is $7.89 and its 200-day moving average is $7.11. Adaptive Biotechnologies Co. has a fifty-two week low of $2.99 and a fifty-two week high of $10.28.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.08. The firm had revenue of $52.44 million for the quarter, compared to the consensus estimate of $42.13 million. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business's revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.33) earnings per share. Analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADPT has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 target price (up from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. The Goldman Sachs Group boosted their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, Scotiabank boosted their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $9.83.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the sale, the insider now owns 1,279,524 shares in the company, valued at approximately $9,404,501.40. The trade was a 5.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chad M. Robins sold 211,160 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares of the company's stock, valued at approximately $21,901,958.50. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 826,013 shares of company stock worth $6,543,452 in the last quarter. 6.20% of the stock is owned by insiders.

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.

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