Pinnacle Wealth Planning Services Inc. Has $248,000 Holdings in Adaptive Biotechnologies Corporation $ADPT

Pinnacle Wealth Planning Services Inc. increased its holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 48.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,288 shares of the company’s stock after buying an additional 6,965 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Adaptive Biotechnologies were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Blair William & Co. IL bought a new position in Adaptive Biotechnologies during the 1st quarter worth $84,000. Candriam S.C.A. acquired a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth $90,000. Caxton Associates LLP bought a new position in shares of Adaptive Biotechnologies in the first quarter worth $93,000. Teza Capital Management LLC bought a new position in shares of Adaptive Biotechnologies in the first quarter worth $118,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Adaptive Biotechnologies in the second quarter valued at about $134,000. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $15.15 on Thursday. The firm has a 50 day simple moving average of $15.11 and a 200 day simple moving average of $12.44. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -18.48 and a beta of 2.09. Adaptive Biotechnologies Corporation has a one year low of $4.27 and a one year high of $17.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The company had revenue of $93.97 million during the quarter, compared to analysts’ expectations of $58.76 million. During the same period in the prior year, the company earned ($0.22) EPS. Adaptive Biotechnologies’s revenue was up 102.4% compared to the same quarter last year. As a group, analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Insider Activity

In other news, insider Harlan S. Robins sold 10,000 shares of Adaptive Biotechnologies stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $14.82, for a total transaction of $148,200.00. Following the sale, the insider directly owned 1,269,524 shares of the company’s stock, valued at approximately $18,814,345.68. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chad M. Robins sold 86,161 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $14.73, for a total value of $1,269,151.53. Following the sale, the chief executive officer owned 2,873,088 shares in the company, valued at approximately $42,320,586.24. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 99,503 shares of company stock valued at $1,466,724 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ADPT. Morgan Stanley increased their price objective on shares of Adaptive Biotechnologies from $11.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. BTIG Research upped their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.56.

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 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.