UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 118,593 shares of the company's stock, valued at approximately $711,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.08% of Adaptive Biotechnologies at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in ADPT. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at about $50,000. Cibc World Markets Corp bought a new position in Adaptive Biotechnologies during the fourth quarter valued at approximately $65,000. Bridgefront Capital LLC bought a new position in Adaptive Biotechnologies during the fourth quarter valued at approximately $80,000. Proficio Capital Partners LLC bought a new position in Adaptive Biotechnologies during the fourth quarter valued at approximately $93,000. Finally, Amundi raised its position in Adaptive Biotechnologies by 41.2% during the fourth quarter. Amundi now owns 15,532 shares of the company's stock valued at $93,000 after acquiring an additional 4,531 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.
Wall Street Analyst Weigh In
ADPT has been the topic of several recent research reports. Piper Sandler reaffirmed an "overweight" rating and set a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley raised their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.83.
Check Out Our Latest Stock Report on ADPT
Adaptive Biotechnologies Stock Down 0.9%
Shares of NASDAQ:ADPT traded down $0.09 during trading on Friday, reaching $10.32. The stock had a trading volume of 979,158 shares, compared to its average volume of 1,566,730. Adaptive Biotechnologies Co. has a 52 week low of $2.99 and a 52 week high of $10.87. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -9.47 and a beta of 1.80. The stock has a fifty day simple moving average of $8.79 and a two-hundred day simple moving average of $7.81.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, beating 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%. The company had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. During the same quarter last year, the firm posted ($0.33) earnings per share. The company's quarterly revenue was up 25.2% compared to the same quarter last year. On average, analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.
Insider Activity
In other news, insider Harlan S. Robins sold 68,412 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total value of $502,828.20. Following the sale, the insider now owns 1,279,524 shares in the company, valued at approximately $9,404,501.40. This trade represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 72,039 shares of company stock valued at $535,259 over the last 90 days. 6.40% of the stock is currently owned by company insiders.
About Adaptive Biotechnologies
(
Free Report)
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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