Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock Holdings Decreased by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,833,137 shares of the company's stock after selling 900,747 shares during the quarter. Nikko Asset Management Americas Inc. owned about 4.63% of Adaptive Biotechnologies worth $40,930,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $50,000. GAMMA Investing LLC purchased a new position in Adaptive Biotechnologies in the 4th quarter valued at approximately $59,000. Cibc World Markets Corp acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $65,000. Townsquare Capital LLC purchased a new stake in Adaptive Biotechnologies during the third quarter worth $56,000. Finally, Amundi boosted its position 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 purchasing an additional 4,531 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Up 8.4 %

Shares of ADPT traded up $0.65 on Friday, hitting $8.40. 2,854,527 shares of the stock traded hands, compared to its average volume of 1,441,976. The firm has a market capitalization of $1.25 billion, a P/E ratio of -7.71 and a beta of 1.53. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $8.95. The stock's 50 day moving average is $7.70 and its two-hundred day moving average is $6.19.

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Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter in the previous year, the business earned ($0.30) EPS. Research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Activity at Adaptive Biotechnologies

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 sale, the director now owns 224,690 shares in the company, valued at approximately $1,584,064.50. The trade was a 4.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Hershberg sold 53,000 shares of the firm'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 transaction of $402,270.00. Following the completion of the transaction, the director now owns 69,690 shares in the company, valued at $528,947.10. The trade was a 43.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 755,903 shares of company stock worth $6,025,342. 6.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Scotiabank lifted 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. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $8.00 to $9.00 in a report on Friday. Finally, Piper Sandler restated an "overweight" rating and set a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $9.40.

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.