Deutsche Bank AG Boosts Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Deutsche Bank AG increased its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 397.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,577 shares of the company's stock after acquiring an additional 503,842 shares during the period. Deutsche Bank AG owned approximately 0.43% of Adaptive Biotechnologies worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC raised its stake in Adaptive Biotechnologies by 94.4% in the 4th 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 during the last quarter. Cubist Systematic Strategies LLC raised its stake in Adaptive Biotechnologies by 5.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 315,098 shares of the company's stock worth $1,889,000 after acquiring an additional 15,817 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in Adaptive Biotechnologies in the 4th quarter worth $150,000. Bridgefront Capital LLC purchased a new position in Adaptive Biotechnologies in the 4th quarter worth $80,000. Finally, Caxton Associates LP purchased a new position in Adaptive Biotechnologies in the 4th quarter worth $739,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and set a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. Scotiabank increased their price target 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. Morgan Stanley increased their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group increased their price target on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Adaptive Biotechnologies has an average rating of "Moderate Buy" and a consensus target price of $9.83.

Adaptive Biotechnologies Trading Up 1.0%

ADPT traded up $0.09 during midday trading on Friday, hitting $8.93. 1,008,446 shares of the company were exchanged, compared to its average volume of 1,578,522. Adaptive Biotechnologies Co. has a 1-year low of $2.99 and a 1-year high of $10.28. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -8.19 and a beta of 1.75. The company's 50 day simple moving average is $8.20 and its 200 day simple moving average is $7.35.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its 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 return on equity of 64.65% and a negative net margin of 89.12%. The firm had revenue of $52.44 million for the quarter, compared to analysts' expectations of $42.13 million. During the same period last year, the firm earned ($0.33) EPS. The company's quarterly revenue was up 25.2% on a year-over-year basis. On average, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Chad M. Robins sold 117,351 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $819,109.98. Following the transaction, the chief executive officer now directly owns 2,814,350 shares in the company, valued at $19,644,163. The trade was a 4.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kyle Piskel sold 10,320 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total value of $72,033.60. Following the transaction, the chief financial officer now owns 269,010 shares in the company, valued at approximately $1,877,689.80. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 358,754 shares of company stock worth $2,584,806. Corporate insiders own 6.40% of the company's stock.

Adaptive Biotechnologies Company 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.