Massachusetts Financial Services Co. MA Has $17.14 Million Stock Holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

Massachusetts Financial Services Co. MA reduced its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 31.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,306,312 shares of the company's stock after selling 1,064,607 shares during the period. Massachusetts Financial Services Co. MA owned 1.55% of Adaptive Biotechnologies worth $17,136,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Adaptive Biotechnologies by 2.7% in the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock worth $486,000 after purchasing an additional 2,163 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Adaptive Biotechnologies by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company's stock worth $395,000 after acquiring an additional 2,625 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Adaptive Biotechnologies by 3.8% during the first quarter. D.A. Davidson & CO. now owns 91,850 shares of the company's stock valued at $682,000 after purchasing an additional 3,400 shares in the last quarter. GAMMA Investing LLC increased its holdings in Adaptive Biotechnologies by 36.5% during the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock worth $100,000 after buying an additional 3,583 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Adaptive Biotechnologies by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock valued at $414,000 after buying an additional 3,650 shares in the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADPT shares. Morgan Stanley upped their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. The Goldman Sachs Group boosted 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. Piper Sandler reiterated an "overweight" rating and set a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Finally, Craig Hallum began coverage on Adaptive Biotechnologies in a research report on Wednesday, June 18th. They set a "buy" rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and an average target price of $10.57.

Adaptive Biotechnologies Stock Up 2.1%

Shares of NASDAQ ADPT traded up $0.22 during midday trading on Tuesday, reaching $10.53. 1,842,963 shares of the company were exchanged, compared to its average volume of 1,647,667. The stock has a market cap of $1.60 billion, a P/E ratio of -10.97 and a beta of 1.83. The stock's 50-day moving average price is $10.41 and its 200-day moving average price is $8.71. Adaptive Biotechnologies Corporation has a one year low of $3.85 and a one year high of $12.43.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 74.84% and a negative return on equity of 62.79%. The business had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. During the same period last year, the business earned ($0.33) EPS. Adaptive Biotechnologies's revenue was up 25.2% compared to the same quarter last year. On average, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, insider Harlan S. Robins sold 68,412 shares of Adaptive Biotechnologies stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total transaction of $502,828.20. Following the transaction, the insider owned 1,279,524 shares in the company, valued at $9,404,501.40. The trade was a 5.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.40% of the stock is currently owned by company insiders.

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.