JPMorgan Chase & Co. Lowers Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

JPMorgan Chase & Co. lessened its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 25.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 659,206 shares of the company's stock after selling 228,627 shares during the period. JPMorgan Chase & Co. owned 0.45% of Adaptive Biotechnologies worth $3,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Adaptive Biotechnologies by 2.0% in the third quarter. State Street Corp now owns 2,551,785 shares of the company's stock worth $13,065,000 after acquiring an additional 48,885 shares during the period. Barclays PLC grew its holdings in Adaptive Biotechnologies by 149.5% during the 3rd quarter. Barclays PLC now owns 230,177 shares of the company's stock valued at $1,180,000 after buying an additional 137,936 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Adaptive Biotechnologies by 48.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company's stock valued at $102,000 after buying an additional 6,500 shares during the period. GAMMA Investing LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $59,000. Finally, SG Americas Securities LLC grew its stake in Adaptive Biotechnologies by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 45,944 shares of the company's stock valued at $275,000 after acquiring an additional 4,799 shares in the last quarter. Institutional investors own 99.17% of the company's stock.

Insider Buying and Selling

In related news, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total value of $1,794,860.00. Following the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at $21,901,958.50. The trade was a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter M. Neupert sold 10,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the transaction, the director now owns 224,690 shares of the company's stock, valued at $1,584,064.50. This trade represents a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 757,601 shares of company stock valued at $6,040,624 over the last ninety days. 6.20% of the stock is owned by insiders.

Adaptive Biotechnologies Stock Down 0.9 %

Shares of ADPT traded down $0.07 during trading hours on Friday, hitting $7.82. The company had a trading volume of 189,618 shares, compared to its average volume of 1,481,517. Adaptive Biotechnologies Co. has a 52-week low of $2.48 and a 52-week high of $9.01. The stock's 50 day moving average price is $7.81 and its 200 day moving average price is $6.76. The firm has a market cap of $1.16 billion, a P/E ratio of -7.18 and a beta of 1.73.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period in the previous year, the company posted ($0.30) EPS. On average, research analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADPT has been the topic of several research analyst reports. The Goldman Sachs Group upgraded shares of Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $8.00 to $9.00 in a research report on Friday, March 21st. Piper Sandler restated an "overweight" rating and set a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Finally, Scotiabank upped their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $9.40.

About Adaptive Biotechnologies

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.