Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,649 shares of the company’s stock after acquiring an additional 3,755 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Adaptive Biotechnologies were worth $127,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ADPT. Manchester Capital Management LLC increased its holdings in shares of Adaptive Biotechnologies by 151.5% in the 3rd quarter. Manchester Capital Management LLC now owns 7,795 shares of the company’s stock valued at $56,000 after purchasing an additional 4,695 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $61,000. PNC Financial Services Group Inc. grew its holdings in shares of Adaptive Biotechnologies by 176.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock worth $73,000 after acquiring an additional 3,380 shares during the period. Captrust Financial Advisors increased its stake in Adaptive Biotechnologies by 966.4% in the 3rd quarter. Captrust Financial Advisors now owns 12,317 shares of the company’s stock valued at $88,000 after purchasing an additional 11,162 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 90.75% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on ADPT shares. Credit Suisse Group reaffirmed an “underperform” rating and issued a $7.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, February 15th. Morgan Stanley dropped their price objective on Adaptive Biotechnologies from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, February 16th. Finally, Piper Sandler raised their price target on shares of Adaptive Biotechnologies from $14.00 to $15.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Adaptive Biotechnologies presently has an average rating of “Hold” and a consensus price target of $13.17.
Insider Buying and Selling at Adaptive Biotechnologies
Adaptive Biotechnologies Trading Up 3.9 %
Shares of NASDAQ:ADPT opened at $6.60 on Tuesday. The firm has a market cap of $952.45 million, a price-to-earnings ratio of -4.82 and a beta of 1.18. The stock’s 50-day moving average price is $8.11 and its two-hundred day moving average price is $8.36. Adaptive Biotechnologies Co. has a 12-month low of $5.95 and a 12-month high of $13.21.
Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Adaptive Biotechnologies had a negative return on equity of 41.21% and a negative net margin of 105.87%. The company had revenue of $37.65 million for the quarter, compared to analysts’ expectations of $36.81 million. During the same quarter in the previous year, the company earned ($0.44) earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. As a group, research analysts forecast that Adaptive Biotechnologies Co. will post -1.19 earnings per share for the current fiscal year.
About Adaptive Biotechnologies
Adaptive Biotechnologies Corp. engages in the development of an immune medicine platform. Its products and services include immunoSEQ, clonoSEQ, cellular therapy, and vaccines. The company was founded by Chad Robins, Harlan Robins, and Chris Carlson on September 8, 2009 and is headquartered in Seattle, WA.
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