Lazard Asset Management LLC Makes New $177,000 Investment in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Lazard Asset Management LLC purchased a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,807 shares of the company's stock, valued at approximately $177,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its position in shares of Adaptive Biotechnologies by 4.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 150,071 shares of the company's stock worth $900,000 after purchasing an additional 6,392 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth $281,000. Graham Capital Management L.P. acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $245,000. Deutsche Bank AG lifted its holdings in shares of Adaptive Biotechnologies by 397.6% in the fourth quarter. Deutsche Bank AG now owns 630,577 shares of the company's stock valued at $3,783,000 after purchasing an additional 503,842 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in shares of Adaptive Biotechnologies by 94.4% during the fourth quarter. Driehaus Capital Management LLC now owns 846,171 shares of the company's stock worth $5,073,000 after acquiring an additional 410,877 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $13.00 target price (up from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Scotiabank increased their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley increased their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. One 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $9.83.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the stock in a transaction dated Thursday, May 1st. The stock was 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 directly owns 1,279,524 shares in the company, valued at approximately $9,404,501.40. This trade represents a 5.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chad M. Robins sold 117,351 shares of Adaptive Biotechnologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $819,109.98. Following the transaction, the chief executive officer now owns 2,814,350 shares of the company's stock, valued at $19,644,163. This trade represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 358,754 shares of company stock worth $2,584,806 over the last three months. Insiders own 6.40% of the company's stock.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock traded up $0.01 during midday trading on Wednesday, reaching $9.15. 785,408 shares of the company's stock were exchanged, compared to its average volume of 1,574,685. Adaptive Biotechnologies Co. has a 52 week low of $2.99 and a 52 week high of $10.28. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -8.39 and a beta of 1.75. The stock's 50-day simple moving average is $8.25 and its 200 day simple moving average is $7.39.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued 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 company had revenue of $52.44 million during the quarter, compared to analysts' expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The business's revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.33) earnings per share. Research analysts forecast 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.