Bank of America Corp DE Has $1.45 Million Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Bank of America Corp DE trimmed its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 69.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,996 shares of the company's stock after selling 538,135 shares during the quarter. Bank of America Corp DE owned approximately 0.16% of Adaptive Biotechnologies worth $1,445,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADPT. KBC Group NV acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at about $50,000. Cibc World Markets Corp acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $65,000. Amundi lifted its position in shares of Adaptive Biotechnologies by 41.2% in the fourth quarter. Amundi now owns 15,532 shares of the company's stock valued at $93,000 after buying an additional 4,531 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $93,000. Finally, Walleye Capital LLC acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $94,000. Institutional investors and hedge funds own 99.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Morgan Stanley increased 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. The Goldman Sachs Group lifted their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Scotiabank increased their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Adaptive Biotechnologies presently has an average rating of "Moderate Buy" and an average price target of $9.83.

Adaptive Biotechnologies Trading Up 2.2%

ADPT stock traded up $0.22 during trading hours on Friday, hitting $10.09. 1,064,851 shares of the stock were exchanged, compared to its average volume of 1,561,591. Adaptive Biotechnologies Co. has a 12 month low of $2.99 and a 12 month high of $10.37. The firm has a market capitalization of $1.53 billion, a P/E ratio of -9.26 and a beta of 1.80. The company has a 50-day simple moving average of $8.51 and a two-hundred day simple moving average of $7.63.

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 for the quarter, topping the consensus estimate of ($0.28) by $0.08. The business had revenue of $52.44 million during the quarter, compared to analysts' expectations of $42.13 million. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business's revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.33) EPS. On average, equities research analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Activity

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 53,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the transaction, the director now owns 69,690 shares in the company, valued at $528,947.10. This trade represents a 43.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Harlan S. Robins sold 68,412 shares of the company'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 of the company's stock, valued at approximately $9,404,501.40. The trade was a 5.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,039 shares of company stock worth $1,008,029. Corporate insiders own 6.40% of the company's stock.

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.