Northern Trust Corp Boosts Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Northern Trust Corp raised its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,093,981 shares of the company's stock after acquiring an additional 130,449 shares during the period. Northern Trust Corp owned approximately 0.74% of Adaptive Biotechnologies worth $6,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Impact Partnership Wealth LLC raised its stake in Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company's stock valued at $114,000 after purchasing an additional 1,539 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Adaptive Biotechnologies by 2.7% during the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock valued at $486,000 after buying an additional 2,163 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Adaptive Biotechnologies by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company's stock worth $188,000 after acquiring an additional 2,928 shares during the last quarter. MetLife Investment Management LLC grew its position in Adaptive Biotechnologies by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock worth $414,000 after acquiring an additional 3,650 shares in the last quarter. Finally, Amundi increased its stake in 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 acquiring an additional 4,531 shares during the last quarter. Institutional investors own 99.17% of the company's stock.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 10,320 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the completion of the transaction, the chief financial officer now owns 269,010 shares of the company's stock, valued at approximately $1,877,689.80. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Chad M. Robins sold 117,351 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $819,109.98. Following the completion of the sale, the chief executive officer now directly owns 2,814,350 shares in the company, valued at $19,644,163. This represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 358,754 shares of company stock valued at $2,584,806. 6.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADPT has been the topic of several recent research reports. 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. The Goldman Sachs Group upped their price objective on shares of 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 lifted their price objective on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $9.83.

Adaptive Biotechnologies Stock Up 1.0%

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

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, beating analysts' consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business had revenue of $52.44 million for the quarter, compared to the consensus estimate of $42.13 million. During the same period in the previous year, the firm earned ($0.33) EPS. The company's quarterly revenue was up 25.2% compared to the same quarter last year. Sell-side analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

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.