Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,220 shares of the company’s stock after acquiring an additional 8,595 shares during the quarter. Jennison Associates LLC’s holdings in Adaptive Biotechnologies were worth $702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Adaptive Biotechnologies by 0.6% during 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 during the period. Commonwealth Equity Services LLC increased its stake in shares of Adaptive Biotechnologies by 6.8% during 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 during the period. Swiss National Bank increased its stake in shares of Adaptive Biotechnologies by 1.7% during 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 during the period. Strs Ohio increased its stake in shares of Adaptive Biotechnologies by 4.5% during 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Adaptive Biotechnologies by 28.3% during 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 during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT opened at $2.60 on Friday. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $9.08. The company has a market capitalization of $377.23 million, a PE ratio of -1.67 and a beta of 1.25. The firm’s 50-day moving average is $3.23 and its two-hundred day moving average is $3.98.

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

Analysts Set New Price Targets

ADPT has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price objective on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. BTIG Research decreased their price objective on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.80.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 48,673 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $166,948.39. Following the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Chad M. Robins sold 48,673 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $166,948.39. Following the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Julie Rubinstein sold 39,070 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.47, for a total transaction of $135,572.90. Following the transaction, the president now directly owns 472,754 shares in the company, valued at approximately $1,640,456.38. The disclosure for this sale can be found here. Insiders have sold 124,307 shares of company stock valued at $428,090 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

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.