OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 29.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,829 shares of the company's stock after acquiring an additional 48,555 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.14% of Adaptive Biotechnologies worth $1,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADPT. Voya Investment Management LLC increased its stake in Adaptive Biotechnologies by 6,121.7% in the 4th quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock worth $14,560,000 after purchasing an additional 2,389,674 shares during the period. Ameriprise Financial Inc. grew its stake in Adaptive Biotechnologies by 794.0% in the fourth quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company's stock worth $4,417,000 after purchasing an additional 654,309 shares during the period. Deutsche Bank AG grew its stake in Adaptive Biotechnologies by 397.6% in the fourth quarter. Deutsche Bank AG now owns 630,577 shares of the company's stock worth $3,783,000 after purchasing an additional 503,842 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Adaptive Biotechnologies by 17.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company's stock worth $20,209,000 after purchasing an additional 489,555 shares during the period. Finally, Prudential Financial Inc. raised its holdings in Adaptive Biotechnologies by 3,290.8% in the fourth quarter. Prudential Financial Inc. now owns 481,965 shares of the company's stock worth $2,889,000 after buying an additional 467,751 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Insider Activity at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 99,107 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $8.44, for a total value of $836,463.08. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,747,356.44. The trade was a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Francis Lo sold 20,875 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total transaction of $145,916.25. Following the sale, the insider now directly owns 332,846 shares in the company, valued at approximately $2,326,593.54. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 667,092 shares of company stock valued at $5,198,980 in the last three months. 6.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. 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 research report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $13.00 target price (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley boosted their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.83.

Adaptive Biotechnologies Trading Down 1.2%

ADPT traded down $0.11 on Monday, hitting $8.95. 293,317 shares of the company's stock traded hands, compared to its average volume of 1,570,475. Adaptive Biotechnologies Co. has a one year low of $2.99 and a one year high of $10.28. The company's 50 day simple moving average is $8.03 and its 200-day simple moving average is $7.23. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -8.20 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $52.44 million for the quarter, compared to analysts' expectations of $42.13 million. During the same period in the prior year, the business earned ($0.33) EPS. The firm's quarterly revenue was up 25.2% on a year-over-year basis. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS 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.