Brighton Jones LLC Cuts Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Brighton Jones LLC lessened its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 36.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 25,885 shares of the company’s stock after selling 14,895 shares during the quarter. Brighton Jones LLC’s holdings in Adaptive Biotechnologies were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADPT. ARK Investment Management LLC boosted its stake in shares of Adaptive Biotechnologies by 11.3% in the fourth quarter. ARK Investment Management LLC now owns 12,806,513 shares of the company’s stock valued at $62,752,000 after buying an additional 1,297,205 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Adaptive Biotechnologies by 1,760.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 864,737 shares of the company’s stock worth $4,713,000 after purchasing an additional 818,262 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Adaptive Biotechnologies by 11.7% during the 3rd quarter. American Century Companies Inc. now owns 824,318 shares of the company’s stock worth $4,493,000 after purchasing an additional 86,478 shares during the period. SG Americas Securities LLC increased its holdings in shares of Adaptive Biotechnologies by 20.2% in the 4th quarter. SG Americas Securities LLC now owns 70,571 shares of the company’s stock valued at $346,000 after purchasing an additional 11,851 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Adaptive Biotechnologies by 24.5% in the third quarter. Federated Hermes Inc. now owns 1,385,207 shares of the company’s stock valued at $7,549,000 after purchasing an additional 272,720 shares during the period. Institutional investors and hedge funds own 99.17% of the company’s stock.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, insider Kyle Piskel sold 7,727 shares of the business’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 $26,503.61. Following the completion of the transaction, the insider now directly owns 123,318 shares of the company’s stock, valued at $422,980.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 owns 472,754 shares of the company’s stock, valued at $1,640,456.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kyle Piskel sold 7,727 shares of Adaptive Biotechnologies 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 $26,503.61. Following the completion of the sale, the insider now directly owns 123,318 shares of the company’s stock, valued at $422,980.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,307 shares of company stock worth $428,090. 5.20% of the stock is owned by insiders.

Adaptive Biotechnologies Trading Up 2.7 %

NASDAQ:ADPT opened at $3.01 on Friday. The company has a market capitalization of $443.58 million, a P/E ratio of -1.93 and a beta of 1.27. The firm has a 50-day moving average price of $3.12 and a two-hundred day moving average price of $3.92. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $9.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.30) 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 business had revenue of $45.78 million for the quarter, compared to analyst estimates of $50.15 million. On average, equities research analysts predict that Adaptive Biotechnologies Co. will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

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

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.