Northern Trust Corp Acquires 130,449 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Northern Trust Corp increased its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,093,981 shares of the company’s stock after acquiring an additional 130,449 shares during the period. Northern Trust Corp owned approximately 0.74% of Adaptive Biotechnologies worth $6,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV bought a new position in Adaptive Biotechnologies in the fourth quarter valued at $50,000. Cibc World Markets Corp bought a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $65,000. Amundi boosted its stake in Adaptive Biotechnologies by 41.2% during the fourth quarter. Amundi now owns 15,532 shares of the company’s stock worth $93,000 after acquiring an additional 4,531 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Adaptive Biotechnologies during the fourth quarter valued at $93,000. Finally, Walleye Capital LLC purchased a new position in Adaptive Biotechnologies in the fourth quarter worth about $94,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Insider Buying and Selling

In other news, insider Harlan S. Robins sold 68,412 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total value of $502,828.20. Following the transaction, the insider now owns 1,279,524 shares in the company, valued at $9,404,501.40. This trade represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Francis Lo sold 20,875 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total transaction of $145,916.25. Following the completion of the transaction, the insider now directly owns 332,846 shares in the company, valued at approximately $2,326,593.54. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 457,861 shares of company stock valued at $3,421,269. 6.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. The Goldman Sachs Group lifted their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Finally, Piper Sandler restated an “overweight” rating and set a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and an average target price of $9.83.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $9.20 on Tuesday. The firm has a market capitalization of $1.40 billion, a P/E ratio of -8.44 and a beta of 1.75. Adaptive Biotechnologies Co. has a 1 year low of $2.99 and a 1 year high of $10.28. The business’s 50-day moving average is $8.06 and its 200 day moving average is $7.26.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data 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. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The business had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. During the same quarter last year, the business posted ($0.33) EPS. The company’s revenue was up 25.2% on a year-over-year basis. On average, analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current 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.