Driehaus Capital Management LLC Boosts Stock Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Driehaus Capital Management LLC grew its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 94.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 846,171 shares of the company's stock after acquiring an additional 410,877 shares during the period. Driehaus Capital Management LLC owned about 0.57% of Adaptive Biotechnologies worth $5,073,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADPT. Barclays PLC raised its position in shares of Adaptive Biotechnologies by 149.5% during the 3rd quarter. Barclays PLC now owns 230,177 shares of the company's stock worth $1,180,000 after buying an additional 137,936 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Adaptive Biotechnologies by 48.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company's stock valued at $102,000 after purchasing an additional 6,500 shares in the last quarter. GAMMA Investing LLC bought a new stake in Adaptive Biotechnologies in the fourth quarter worth approximately $59,000. SG Americas Securities LLC grew its position in Adaptive Biotechnologies by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 45,944 shares of the company's stock worth $275,000 after acquiring an additional 4,799 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its stake in Adaptive Biotechnologies by 8.8% during the 4th quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company's stock valued at $114,000 after purchasing an additional 1,539 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Adaptive Biotechnologies Trading Down 1.1%

NASDAQ ADPT traded down $0.10 during mid-day trading on Thursday, hitting $8.94. The company's stock had a trading volume of 406,224 shares, compared to its average volume of 1,576,798. The company's 50 day simple moving average is $7.95 and its 200 day simple moving average is $7.14. Adaptive Biotechnologies Co. has a twelve month low of $2.99 and a twelve month high of $10.28. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -8.18 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released 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 return on equity of 64.65% and a negative net margin of 89.12%. The company had revenue of $52.44 million for the quarter, compared to analysts' expectations of $42.13 million. During the same period in the previous year, the business posted ($0.33) EPS. The business's revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Buying and Selling

In other news, insider Harlan S. Robins sold 68,412 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total value of $502,828.20. Following the sale, the insider now directly owns 1,279,524 shares of the company's stock, valued at approximately $9,404,501.40. This represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Francis Lo sold 20,875 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total value of $145,916.25. Following the sale, the insider now directly owns 332,846 shares in the company, valued at $2,326,593.54. This trade represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.