Cerity Partners LLC Trims Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Cerity Partners LLC decreased its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 31.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 478,448 shares of the company's stock after selling 215,969 shares during the period. Cerity Partners LLC owned approximately 0.32% of Adaptive Biotechnologies worth $2,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADPT. KBC Group NV purchased a new position in shares of Adaptive Biotechnologies in the fourth quarter worth $50,000. GAMMA Investing LLC purchased a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at about $59,000. Cibc World Markets Corp bought a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at about $65,000. Amundi boosted its holdings in shares of Adaptive Biotechnologies by 41.2% during the fourth quarter. Amundi now owns 15,532 shares of the company's stock worth $93,000 after purchasing an additional 4,531 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth about $93,000. Institutional investors own 99.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADPT. Scotiabank lifted their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. Piper Sandler reiterated an "overweight" rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded shares of Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $8.00 to $9.00 in a report on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $9.40.

Insider Buying and Selling

In other news, Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the completion of the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. The trade was a 43.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chad M. Robins sold 158,921 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $21,798,890.46. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 757,601 shares of company stock worth $6,040,624 in the last quarter. Corporate insiders own 6.20% of the company's stock.

Adaptive Biotechnologies Trading Down 2.1 %

Adaptive Biotechnologies stock traded down $0.16 on Friday, hitting $7.33. 1,270,188 shares of the stock traded hands, compared to its average volume of 1,482,017. The business's fifty day simple moving average is $7.88 and its 200 day simple moving average is $6.71. The firm has a market cap of $1.09 billion, a P/E ratio of -6.72 and a beta of 1.73. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter last year, the firm posted ($0.30) earnings per share. As a group, analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

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.