JPMorgan Chase & Co. Lowers Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

JPMorgan Chase & Co. decreased its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 25.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 659,206 shares of the company's stock after selling 228,627 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.45% of Adaptive Biotechnologies worth $3,952,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ADPT. Prudential Financial Inc. increased its position in shares of Adaptive Biotechnologies by 3,290.8% during the 4th quarter. Prudential Financial Inc. now owns 481,965 shares of the company's stock valued at $2,889,000 after purchasing an additional 467,751 shares during the last quarter. Swiss National Bank bought a new position in Adaptive Biotechnologies during the fourth quarter valued at about $1,218,000. Principal Financial Group Inc. purchased a new stake in Adaptive Biotechnologies during the fourth quarter worth about $860,000. Barclays PLC raised its position in Adaptive Biotechnologies by 149.5% in the third quarter. Barclays PLC now owns 230,177 shares of the company's stock worth $1,180,000 after acquiring an additional 137,936 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Adaptive Biotechnologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company's stock valued at $64,236,000 after acquiring an additional 75,448 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Peter M. Neupert sold 10,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was 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 of the company's stock, valued at approximately $1,584,064.50. The trade was a 4.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Hershberg sold 53,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 69,690 shares in the company, valued at approximately $528,947.10. This trade represents a 43.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 757,601 shares of company stock worth $6,040,624 in the last three months. Corporate insiders own 6.20% of the company's stock.

Adaptive Biotechnologies Price Performance

ADPT stock traded up $0.37 during mid-day trading on Wednesday, reaching $7.38. 1,886,370 shares of the company traded hands, compared to its average volume of 1,485,326. The company has a fifty day moving average price of $7.83 and a 200-day moving average price of $6.74. Adaptive Biotechnologies Co. has a 52-week low of $2.45 and a 52-week high of $9.01. The company has a market capitalization of $1.10 billion, a P/E ratio of -6.77 and a beta of 1.73.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating 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 quarter in the previous year, the company earned ($0.30) earnings per share. As a group, analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Adaptive Biotechnologies Company 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.