Sumitomo Mitsui Trust Holdings Inc. Sells 334,952 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPTFree Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,176,707 shares of the company’s stock after selling 334,952 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 4.26% of Adaptive Biotechnologies worth $19,827,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADPT. Personal CFO Solutions LLC acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at $55,000. QRG Capital Management Inc. acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at $71,000. RPO LLC acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at $78,000. China Universal Asset Management Co. Ltd. increased its stake in Adaptive Biotechnologies by 350.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,747 shares of the company’s stock valued at $82,000 after buying an additional 13,028 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Adaptive Biotechnologies by 22.5% in the 4th quarter. Victory Capital Management Inc. now owns 19,087 shares of the company’s stock valued at $94,000 after buying an additional 3,509 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, BTIG Research lowered their price target on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.80.

Get Our Latest Stock Report on ADPT

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock opened at $3.54 on Wednesday. The firm has a market capitalization of $521.68 million, a PE ratio of -2.38 and a beta of 1.35. The company’s 50-day moving average is $3.43 and its 200-day moving average is $3.58. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $8.51.

Adaptive Biotechnologies (NASDAQ:ADPTGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.02. The company had revenue of $41.87 million for the quarter, compared to analyst estimates of $38.78 million. Adaptive Biotechnologies had a negative net margin of 123.24% and a negative return on equity of 56.58%. Adaptive Biotechnologies’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) EPS. As a group, analysts expect that Adaptive Biotechnologies Co. will post -1.29 EPS for the current year.

About Adaptive Biotechnologies

(Free Report)

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.

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Institutional Ownership by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

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