Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Purchased by Invesco Ltd.

Invesco Ltd. boosted its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 173,591 shares of the company’s stock after buying an additional 4,985 shares during the period. Invesco Ltd. owned 0.12% of Adaptive Biotechnologies worth $1,041,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC increased its position in Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock worth $1,180,000 after purchasing an additional 137,936 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 worth $5,735,000 after buying an additional 39,831 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $860,000. Proficio Capital Partners LLC acquired a new position in Adaptive Biotechnologies in the fourth quarter valued at $93,000. Finally, Amundi grew its position in Adaptive Biotechnologies by 41.2% during the fourth quarter. Amundi now owns 15,532 shares of the company’s stock valued at $93,000 after acquiring an additional 4,531 shares during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Chad M. Robins sold 158,921 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.46, for a total value of $1,344,471.66. Following the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at $21,798,890.46. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Hershberg sold 53,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the transaction, the director now directly owns 69,690 shares of the company’s stock, valued at approximately $528,947.10. This represents a 43.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 757,601 shares of company stock worth $6,040,624. 6.20% of the stock is currently owned by corporate insiders.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $7.36 on Friday. The stock has a market cap of $1.09 billion, a PE ratio of -6.75 and a beta of 1.73. The business has a 50 day moving average price of $7.73 and a two-hundred day moving average price of $6.85. Adaptive Biotechnologies Co. has a fifty-two week low of $2.74 and a fifty-two week high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business’s revenue was up 25.2% on a year-over-year basis. During the same period last year, the business earned ($0.33) EPS. Sell-side analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

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.