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

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 29.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 213,829 shares of the company’s stock after purchasing an additional 48,555 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.14% of Adaptive Biotechnologies worth $1,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $50,000. Cibc World Markets Corp purchased a new stake in Adaptive Biotechnologies in the 4th quarter valued at $65,000. Bridgefront Capital LLC acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth $80,000. Proficio Capital Partners LLC acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth $93,000. Finally, Amundi grew its position in Adaptive Biotechnologies by 41.2% during the 4th quarter. Amundi now owns 15,532 shares of the company’s stock worth $93,000 after purchasing an additional 4,531 shares during the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Michelle Renee Griffin sold 15,664 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $7.94, for a total value of $124,372.16. Following the completion of the transaction, the director now owns 51,685 shares of the company’s stock, valued at approximately $410,378.90. The trade was a 23.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad M. Robins sold 211,160 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,901,958.50. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 826,013 shares of company stock valued at $6,543,452. Corporate insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

ADPT has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Scotiabank upped their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price (up from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.83.

Adaptive Biotechnologies Trading Down 2.3%

Shares of ADPT opened at $9.29 on Wednesday. The stock’s 50 day moving average is $7.89 and its two-hundred day moving average is $7.11. Adaptive Biotechnologies Co. has a twelve month low of $2.99 and a twelve month high of $10.28. The firm has a market capitalization of $1.41 billion, a PE ratio of -8.52 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The firm had revenue of $52.44 million for the quarter, compared to the consensus estimate of $42.13 million. During the same period in the previous year, the business earned ($0.33) earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. On average, sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current 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.