Prudential Financial Inc. Has $2.89 Million Stock Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Prudential Financial Inc. raised its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 3,290.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 481,965 shares of the company's stock after purchasing an additional 467,751 shares during the period. Prudential Financial Inc. owned 0.33% of Adaptive Biotechnologies worth $2,889,000 as of its most recent SEC filing.

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

Adaptive Biotechnologies Trading Up 3.1 %

ADPT stock traded up $0.23 during midday trading on Monday, hitting $7.70. The stock had a trading volume of 3,454,084 shares, compared to its average volume of 1,491,826. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.06 and a beta of 1.73. The stock has a 50-day simple moving average of $7.88 and a 200 day simple moving average of $6.51. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $9.01.

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Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 last year, the company posted ($0.30) EPS. On average, equities analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADPT. Piper Sandler reaffirmed an "overweight" rating and issued a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Scotiabank upped their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 13th. 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 report on Wednesday, December 18th. Finally, The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $8.00 to $9.00 in a research report on Friday, March 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Adaptive Biotechnologies presently has an average rating of "Buy" and a consensus target price of $9.40.

Insider Transactions at Adaptive Biotechnologies

In related news, CFO Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $72,033.60. Following the completion of the transaction, the chief financial officer now directly owns 269,010 shares of the company's stock, valued at $1,877,689.80. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Hershberg sold 53,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. This represents a 43.20 % 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. Corporate insiders own 6.20% of the company's stock.

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.