933,794 Shares in Adaptive Biotechnologies Co. (NASDAQ:ADPT) Acquired by abrdn plc

abrdn plc bought a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 933,794 shares of the company’s stock, valued at approximately $4,576,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Adaptive Biotechnologies by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 375,908 shares of the company’s stock worth $2,049,000 after acquiring an additional 2,325 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Adaptive Biotechnologies by 6.8% in the third quarter. Commonwealth Equity Services LLC now owns 55,264 shares of the company’s stock worth $301,000 after acquiring an additional 3,498 shares in the last quarter. Swiss National Bank boosted its holdings in Adaptive Biotechnologies by 1.7% in the third quarter. Swiss National Bank now owns 222,100 shares of the company’s stock worth $1,210,000 after acquiring an additional 3,800 shares in the last quarter. Strs Ohio boosted its holdings in Adaptive Biotechnologies by 4.5% in the fourth quarter. Strs Ohio now owns 87,500 shares of the company’s stock worth $428,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Adaptive Biotechnologies by 28.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,364 shares of the company’s stock worth $105,000 after acquiring an additional 4,715 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Down 0.4 %

ADPT stock opened at $2.60 on Friday. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $9.08. The stock’s 50 day moving average is $3.23 and its 200-day moving average is $3.98. The firm has a market capitalization of $377.23 million, a PE ratio of -1.67 and a beta of 1.25.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Wednesday, February 14th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. The company had revenue of $45.78 million for the quarter, compared to analyst estimates of $50.15 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. On average, equities research analysts anticipate that Adaptive Biotechnologies Co. will post -1.31 earnings per share for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 48,673 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 directly owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Tycho Peterson sold 15,456 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.44, for a total transaction of $53,168.64. Following the completion of the sale, the chief financial officer now directly owns 531,553 shares of the company’s stock, valued at $1,828,542.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chad M. Robins sold 48,673 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $166,948.39. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,307 shares of company stock valued at $428,090. 5.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADPT. JPMorgan Chase & Co. cut their price target on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, February 15th. BTIG Research dropped their target price on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, The Goldman Sachs Group dropped their target price on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.80.

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.