Massachusetts Financial Services Co. MA Sells 1,064,607 Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

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

Several other institutional investors and hedge funds have also bought and sold shares of ADPT. Vanguard Group Inc. raised its position in Adaptive Biotechnologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company's stock valued at $64,236,000 after purchasing an additional 75,448 shares during the last quarter. Soleus Capital Management L.P. raised its position in Adaptive Biotechnologies by 168.1% in the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock valued at $17,884,000 after purchasing an additional 1,870,393 shares during the last quarter. Geode Capital Management LLC raised its position in Adaptive Biotechnologies by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,684,506 shares of the company's stock valued at $16,098,000 after purchasing an additional 22,628 shares during the last quarter. Voya Investment Management LLC raised its position in Adaptive Biotechnologies by 6,121.7% in the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock valued at $14,560,000 after purchasing an additional 2,389,674 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Adaptive Biotechnologies by 12.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock valued at $9,622,000 after purchasing an additional 183,881 shares during the last quarter. Institutional investors own 99.17% of the company's stock.

Wall Street Analyst Weigh In

ADPT has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. 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. Piper Sandler reissued an "overweight" rating and issued a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. Finally, Craig Hallum initiated coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.57.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT traded up $0.03 during mid-day trading on Monday, reaching $10.42. 516,050 shares of the company's stock traded hands, compared to its average volume of 1,640,949. The stock has a market cap of $1.58 billion, a P/E ratio of -10.85 and a beta of 1.83. The business has a 50-day simple moving average of $10.40 and a 200 day simple moving average of $8.69. Adaptive Biotechnologies Corporation has a 1-year low of $3.85 and a 1-year high of $12.43.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results 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 return on equity of 62.79% and a negative net margin of 74.84%. 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 company earned ($0.33) earnings per share. The company's revenue for the quarter was up 25.2% on a year-over-year basis. Equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In related 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 sale, the insider directly owned 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 can be accessed through this link. 6.40% of the stock is owned by corporate 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.