Cerity Partners LLC Reduces Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Cerity Partners LLC reduced its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 31.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 478,448 shares of the company’s stock after selling 215,969 shares during the period. Cerity Partners LLC owned about 0.32% of Adaptive Biotechnologies worth $2,868,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Impact Partnership Wealth LLC raised its holdings in Adaptive Biotechnologies by 8.8% in the 4th quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock worth $114,000 after purchasing an additional 1,539 shares during the period. Russell Investments Group Ltd. increased its position in Adaptive Biotechnologies by 2.7% in the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock worth $486,000 after buying an additional 2,163 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Adaptive Biotechnologies by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock worth $188,000 after buying an additional 2,928 shares during the period. Amundi raised its stake in shares of Adaptive Biotechnologies by 41.2% in the fourth quarter. Amundi now owns 15,532 shares of the company’s stock worth $93,000 after buying an additional 4,531 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Adaptive Biotechnologies by 11.7% during the 4th quarter. SG Americas Securities LLC now owns 45,944 shares of the company’s stock valued at $275,000 after buying an additional 4,799 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler restated an “overweight” rating and set a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $8.00 to $9.00 in a research note on Friday, March 21st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Adaptive Biotechnologies presently has an average rating of “Buy” and an average target price of $9.40.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT opened at $7.82 on Tuesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -7.17 and a beta of 1.73. The firm has a fifty day moving average price of $7.91 and a 200 day moving average price of $6.66. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. As a group, research analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 211,160 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total value of $1,794,860.00. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $21,901,958.50. This trade represents a 7.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Hershberg sold 53,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. The trade was a 43.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 757,601 shares of company stock worth $6,040,624 in the last quarter. 6.20% of the stock is owned by corporate insiders.

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.