Voya Investment Management LLC Purchases 2,389,674 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Voya Investment Management LLC increased its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 6,121.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,428,710 shares of the company's stock after buying an additional 2,389,674 shares during the quarter. Voya Investment Management LLC owned about 1.65% of Adaptive Biotechnologies worth $14,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in Adaptive Biotechnologies by 17.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company's stock worth $20,209,000 after acquiring an additional 489,555 shares during the period. Prudential Financial Inc. lifted its stake in shares of Adaptive Biotechnologies by 3,290.8% during the 4th quarter. Prudential Financial Inc. now owns 481,965 shares of the company's stock valued at $2,889,000 after buying an additional 467,751 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in Adaptive Biotechnologies during the 4th quarter worth about $1,480,000. Cinctive Capital Management LP bought a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $1,447,000. Finally, Swiss National Bank purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $1,218,000. Institutional investors own 99.17% of the company's stock.

Insider Activity at Adaptive Biotechnologies

In other news, 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 value of $1,794,860.00. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,901,958.50. This represents a 7.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michelle Renee Griffin sold 15,664 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $7.94, for a total transaction of $124,372.16. Following the completion of the sale, the director now directly owns 51,685 shares of the company's stock, valued at $410,378.90. This represents a 23.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 757,601 shares of company stock worth $6,040,624. 6.20% of the stock is owned by insiders.

Adaptive Biotechnologies Stock Performance

ADPT stock remained flat at $7.36 during midday trading on Thursday. The company had a trading volume of 2,014,779 shares, compared to its average volume of 1,487,133. Adaptive Biotechnologies Co. has a fifty-two week low of $2.56 and a fifty-two week high of $9.01. The stock has a market capitalization of $1.09 billion, a P/E ratio of -6.75 and a beta of 1.73. The business has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $6.85.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. On average, equities analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADPT. Piper Sandler reiterated an "overweight" rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Scotiabank raised their target price 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. Finally, The Goldman Sachs Group upgraded Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $8.00 to $9.00 in a report on Friday, March 21st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Adaptive Biotechnologies has an average rating of "Buy" and an average price target of $9.40.

Adaptive Biotechnologies 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.