Geode Capital Management LLC Buys 22,628 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Geode Capital Management LLC boosted its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,684,506 shares of the company’s stock after acquiring an additional 22,628 shares during the quarter. Geode Capital Management LLC owned 1.82% of Adaptive Biotechnologies worth $16,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Franklin Resources Inc. bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $443,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Adaptive Biotechnologies by 38.9% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 35,521 shares of the company’s stock valued at $213,000 after purchasing an additional 9,945 shares during the last quarter. Prudential Financial Inc. lifted its stake in Adaptive Biotechnologies by 3,290.8% in the fourth quarter. Prudential Financial Inc. now owns 481,965 shares of the company’s stock valued at $2,889,000 after buying an additional 467,751 shares during the period. Vanguard Group Inc. boosted its holdings in Adaptive Biotechnologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock worth $64,236,000 after buying an additional 75,448 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth about $120,000. 99.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADPT has been the subject of a number of analyst reports. Scotiabank boosted their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. Piper Sandler restated an “overweight” rating and issued a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group raised Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $8.00 to $9.00 in a research note on Friday, March 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.40.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $7.33 on Monday. Adaptive Biotechnologies Co. has a 1 year low of $2.36 and a 1 year high of $9.01. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -6.72 and a beta of 1.73. The company’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $6.73.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period last year, the business posted ($0.30) EPS. As a group, analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 10,320 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $72,033.60. Following the sale, the chief financial officer now owns 269,010 shares of the company’s stock, valued at approximately $1,877,689.80. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Julie Rubinstein sold 59,505 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $415,344.90. Following the transaction, the chief operating officer now owns 588,249 shares of the company’s stock, valued at $4,105,978.02. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 757,601 shares of company stock valued at $6,040,624. 6.20% of the stock is currently owned by corporate insiders.

About Adaptive Biotechnologies

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.