Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC decreased its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 625,838 shares of the company's stock after selling 92,818 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.42% of Adaptive Biotechnologies worth $3,752,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Barclays PLC grew its position in shares of Adaptive Biotechnologies by 149.5% in the third 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 period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Adaptive Biotechnologies by 12.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company's stock valued at $39,597,000 after purchasing an additional 834,253 shares during the period. Millrace Asset Group Inc. purchased a new position in shares of Adaptive Biotechnologies in the third quarter worth about $1,396,000. Point72 Asset Management L.P. purchased a new position in shares of Adaptive Biotechnologies in the third quarter worth about $2,537,000. Finally, Rubric Capital Management LP lifted its stake in shares of Adaptive Biotechnologies by 2.9% in the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company's stock worth $73,728,000 after buying an additional 400,000 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

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Adaptive Biotechnologies Trading Up 1.7 %

ADPT stock traded up $0.13 during trading on Wednesday, reaching $7.62. 2,454,883 shares of the stock were exchanged, compared to its average volume of 1,727,822. The business has a 50 day moving average price of $7.63 and a 200-day moving average price of $6.09. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $8.95. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.99 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the firm earned ($0.30) EPS. On average, research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. BTIG Research raised their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Scotiabank raised their price target on shares of 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 reissued an "overweight" rating and issued a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.10.

Insider Activity

In other news, Director Robert Hershberg sold 53,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now directly owns 69,690 shares of the company's stock, valued at approximately $528,947.10. The trade was a 43.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter M. Neupert sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 224,690 shares in the company, valued at $1,584,064.50. This trade represents a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 755,903 shares of company stock valued at $6,025,342. Company insiders own 6.20% of the company's stock.

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.