Franklin Resources Inc. Takes $443,000 Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Franklin Resources Inc. acquired a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,844 shares of the company's stock, valued at approximately $443,000. Franklin Resources Inc. owned about 0.05% of Adaptive Biotechnologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Impact Partnership Wealth LLC boosted its holdings in Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company's stock worth $114,000 after acquiring an additional 1,539 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Adaptive Biotechnologies by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company's stock worth $188,000 after purchasing an additional 2,928 shares during the last quarter. Amundi raised its stake in shares of Adaptive Biotechnologies by 41.2% in the fourth quarter. Amundi now owns 15,532 shares of the company's stock worth $93,000 after purchasing an additional 4,531 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Adaptive Biotechnologies by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 45,944 shares of the company's stock worth $275,000 after purchasing an additional 4,799 shares during the last quarter. Finally, Rhumbline Advisers raised its stake 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 purchasing an additional 5,361 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Trading Up 10.3 %

ADPT traded up $0.72 during trading hours on Wednesday, hitting $7.73. The company's stock had a trading volume of 534,039 shares, compared to its average volume of 1,480,410. The business's 50-day moving average price is $7.83 and its 200-day moving average price is $6.74. Adaptive Biotechnologies Co. has a 12 month low of $2.45 and a 12 month high of $9.01. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -7.09 and a beta of 1.73.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 period last year, the firm earned ($0.30) earnings per share. On average, analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, Director Robert Hershberg sold 53,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the completion of the transaction, the director now owns 69,690 shares of the company's stock, valued at $528,947.10. This trade represents a 43.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chad M. Robins sold 158,921 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $8.46, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 757,601 shares of company stock valued at $6,040,624. 6.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Scotiabank boosted their price target 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. The Goldman Sachs Group upgraded Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $8.00 to $9.00 in a research note on Friday, March 21st. Finally, Piper Sandler restated an "overweight" rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $9.40.

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.