Jennison Associates LLC Increases Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Jennison Associates LLC increased its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,220 shares of the company’s stock after buying an additional 8,595 shares during the quarter. Jennison Associates LLC owned about 0.10% of Adaptive Biotechnologies worth $702,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. AXQ Capital LP purchased a new stake in shares of Adaptive Biotechnologies during the third quarter valued at $58,000. China Universal Asset Management Co. Ltd. lifted its position in Adaptive Biotechnologies by 350.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,747 shares of the company’s stock valued at $82,000 after purchasing an additional 13,028 shares during the period. Savant Capital LLC acquired a new position in Adaptive Biotechnologies during the third quarter valued at $98,000. Lewis Asset Management LLC acquired a new position in Adaptive Biotechnologies during the fourth quarter valued at $96,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Adaptive Biotechnologies by 28.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,364 shares of the company’s stock valued at $105,000 after purchasing an additional 4,715 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 48,673 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $166,948.39. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Chad M. Robins sold 48,673 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $166,948.39. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tycho Peterson sold 15,456 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.44, for a total transaction of $53,168.64. Following the sale, the chief financial officer now directly owns 531,553 shares of the company’s stock, valued at approximately $1,828,542.32. The disclosure for this sale can be found here. Insiders sold 124,307 shares of company stock valued at $428,090 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Adaptive Biotechnologies Stock Performance

Shares of Adaptive Biotechnologies stock opened at $2.60 on Friday. The firm has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $3.98. The company has a market cap of $377.23 million, a P/E ratio of -1.67 and a beta of 1.25. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $9.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Wednesday, February 14th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.02. The business had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $50.15 million. Adaptive Biotechnologies had a negative net margin of 132.29% and a negative return on equity of 53.65%. Equities research analysts forecast that Adaptive Biotechnologies Co. will post -1.31 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADPT. The Goldman Sachs Group decreased their target price on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. BTIG Research decreased their target price on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.80.

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.