Rhumbline Advisers Has $3.09 Million Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Rhumbline Advisers decreased its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 10.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 76,682 shares of the company’s stock after selling 9,246 shares during the period. Rhumbline Advisers’ holdings in Adaptive Biotechnologies were worth $3,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Capital Group LLC boosted its holdings in Adaptive Biotechnologies by 1,266.7% during the first quarter. Private Capital Group LLC now owns 615 shares of the company’s stock worth $25,000 after purchasing an additional 570 shares during the last quarter. NEXT Financial Group Inc bought a new stake in Adaptive Biotechnologies during the fourth quarter worth $33,000. Rothschild Investment Corp IL bought a new stake in Adaptive Biotechnologies during the first quarter worth $201,000. Adalta Capital Management LLC bought a new stake in Adaptive Biotechnologies during the fourth quarter worth $207,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Adaptive Biotechnologies during the fourth quarter worth $261,000. Institutional investors and hedge funds own 80.50% of the company’s stock.

In related news, CEO Chad M. Robins sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $44.16, for a total transaction of $220,800.00. Following the transaction, the chief executive officer now directly owns 1,776,560 shares of the company’s stock, valued at $78,452,889.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Chad M. Cohen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $37.05, for a total transaction of $370,500.00. Following the transaction, the chief financial officer now directly owns 31,604 shares in the company, valued at $1,170,928.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,122 shares of company stock worth $5,529,044. 3.90% of the stock is owned by insiders.

Several research firms have issued reports on ADPT. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $63.00 price target (down from $74.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, March 9th. Zacks Investment Research raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday. Finally, Morgan Stanley dropped their price target on shares of Adaptive Biotechnologies from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $58.40.

Shares of ADPT opened at $37.92 on Friday. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -32.97 and a beta of 0.27. The company has a 50-day moving average of $38.54. Adaptive Biotechnologies Co. has a fifty-two week low of $30.41 and a fifty-two week high of $71.25.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, May 4th. The company reported ($0.29) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.12. Adaptive Biotechnologies had a negative net margin of 134.12% and a negative return on equity of 22.42%. On average, analysts anticipate that Adaptive Biotechnologies Co. will post -1.55 earnings per share for the current fiscal year.

Adaptive Biotechnologies Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.

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Institutional Ownership by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

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