Massachusetts Financial Services Co. MA Boosts Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Massachusetts Financial Services Co. MA lifted its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,370,919 shares of the company's stock after purchasing an additional 489,555 shares during the period. Massachusetts Financial Services Co. MA owned about 2.28% of Adaptive Biotechnologies worth $20,209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV purchased a new stake in Adaptive Biotechnologies during the 4th quarter worth about $50,000. Townsquare Capital LLC acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth about $56,000. GAMMA Investing LLC purchased a new stake in Adaptive Biotechnologies during the fourth quarter worth approximately $59,000. Cibc World Markets Corp acquired a new position in Adaptive Biotechnologies in the fourth quarter valued at approximately $65,000. Finally, Centiva Capital LP acquired a new position in Adaptive Biotechnologies in the third quarter valued at approximately $80,000. Institutional investors and hedge funds own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Up 2.8 %

NASDAQ:ADPT traded up $0.22 during trading hours on Friday, reaching $7.94. 4,142,561 shares of the company's stock were exchanged, compared to its average volume of 1,519,909. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.28 and a beta of 1.73. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $9.01. The company has a 50-day moving average of $7.91 and a 200 day moving average of $6.63.

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Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping 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 prior year, the business earned ($0.30) earnings per share. Research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADPT has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded shares of Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $8.00 to $9.00 in a research report on Friday, March 21st. BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Scotiabank raised their price objective on 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 reissued an "overweight" rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Adaptive Biotechnologies currently has an average rating of "Buy" and an average price target of $9.40.

Insiders Place Their Bets

In related news, CEO Chad M. Robins sold 211,160 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company's stock, valued at $21,901,958.50. This trade represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Francis Lo sold 20,875 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 5th. The shares were 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 owns 332,846 shares in the company, valued at approximately $2,326,593.54. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 757,601 shares of company stock valued at $6,040,624. 6.20% of the stock is owned by company insiders.

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.