LPL Financial LLC Sells 8,470 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

LPL Financial LLC trimmed its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,616 shares of the company’s stock after selling 8,470 shares during the quarter. LPL Financial LLC owned 0.08% of Adaptive Biotechnologies worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in Adaptive Biotechnologies by 2.0% during the third quarter. State Street Corp now owns 2,551,785 shares of the company’s stock valued at $13,065,000 after acquiring an additional 48,885 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Adaptive Biotechnologies by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company’s stock valued at $5,735,000 after purchasing an additional 39,831 shares during the period. Barclays PLC increased its position in shares of Adaptive Biotechnologies by 149.5% during the 3rd quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after purchasing an additional 137,936 shares during the last quarter. Swiss National Bank bought a new position in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $1,218,000. Finally, Rhumbline Advisers boosted its holdings in shares of Adaptive Biotechnologies by 3.0% in the fourth quarter. Rhumbline Advisers now owns 181,202 shares of the company’s stock worth $1,086,000 after buying an additional 5,361 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Peter M. Neupert sold 10,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the transaction, the director now owns 224,690 shares in the company, valued at approximately $1,584,064.50. This represents a 4.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $21,901,958.50. This represents a 7.57 % 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 worth $6,040,624. 6.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on ADPT shares. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $8.00 to $9.00 in a report on Friday, March 21st. Scotiabank upped their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $9.40.

Adaptive Biotechnologies Price Performance

ADPT opened at $7.01 on Wednesday. The company has a 50 day simple moving average of $7.83 and a two-hundred day simple moving average of $6.74. The firm has a market cap of $1.04 billion, a P/E ratio of -6.43 and a beta of 1.73. Adaptive Biotechnologies Co. has a 1-year low of $2.45 and a 1-year high of $9.01.

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

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.