Sumitomo Mitsui Trust Group Inc. Sells 747,447 Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,085,690 shares of the company's stock after selling 747,447 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 4.10% of Adaptive Biotechnologies worth $45,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ADPT. Russell Investments Group Ltd. boosted its stake in Adaptive Biotechnologies by 2.7% in the fourth 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Adaptive Biotechnologies by 4.1% in 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 during the last quarter. GAMMA Investing LLC boosted its position in Adaptive Biotechnologies by 36.5% in the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock valued at $100,000 after buying an additional 3,583 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Adaptive Biotechnologies by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock valued at $414,000 after acquiring an additional 3,650 shares during the last quarter. Finally, Amundi increased its holdings in Adaptive Biotechnologies by 41.2% in the 4th quarter. Amundi now owns 15,532 shares of the company's stock worth $93,000 after purchasing an additional 4,531 shares in the last quarter. Institutional investors own 99.17% of the company's stock.

Insider Activity at Adaptive Biotechnologies

In related news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction on Thursday, May 1st. The shares were 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 the SEC website. 6.40% of the stock is currently owned by company insiders.

Adaptive Biotechnologies Trading Up 4.3%

ADPT stock traded up $0.50 during midday trading on Thursday, hitting $11.98. The stock had a trading volume of 1,018,695 shares, compared to its average volume of 1,625,824. The business has a fifty day moving average price of $9.76 and a two-hundred day moving average price of $8.26. Adaptive Biotechnologies Corporation has a 1-year low of $3.33 and a 1-year high of $12.43. The firm has a market cap of $1.82 billion, a P/E ratio of -12.48 and a beta of 1.83.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Craig Hallum initiated coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They set a "buy" rating and a $15.00 price target on the stock. The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Morgan Stanley upped their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Piper Sandler restated an "overweight" rating and set a $13.00 price objective (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and a consensus price target of $10.57.

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.