Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 11.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,833,137 shares of the company's stock after selling 900,747 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 4.63% of Adaptive Biotechnologies worth $40,965,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ADPT. AQR Capital Management LLC boosted its holdings in shares of Adaptive Biotechnologies by 244.4% during the 2nd quarter. AQR Capital Management LLC now owns 182,076 shares of the company's stock valued at $635,000 after purchasing an additional 129,201 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Adaptive Biotechnologies by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company's stock valued at $177,000 after buying an additional 2,710 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Adaptive Biotechnologies by 89.9% during the 3rd quarter. SG Americas Securities LLC now owns 41,145 shares of the company's stock valued at $211,000 after buying an additional 19,478 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Adaptive Biotechnologies by 30.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company's stock valued at $87,000 after buying an additional 4,000 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Adaptive Biotechnologies by 29.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,576 shares of the company's stock valued at $131,000 after buying an additional 5,826 shares in the last quarter. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT traded down $0.19 during trading on Friday, reaching $8.33. 2,005,056 shares of the company were exchanged, compared to its average volume of 1,565,798. The firm has a market capitalization of $1.23 billion, a PE ratio of -6.22 and a beta of 1.50. The business's fifty day simple moving average is $7.01 and its 200-day simple moving average is $5.64. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $8.74.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 110.13% and a negative return on equity of 62.06%. During the same quarter last year, the firm earned ($0.30) EPS. On average, sell-side analysts anticipate that Adaptive Biotechnologies Co. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

ADPT has been the topic of several recent research reports. BTIG Research upped their target price 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. Piper Sandler increased their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their price objective on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, Scotiabank increased their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Adaptive Biotechnologies currently has an average rating of "Moderate Buy" and a consensus target price of $8.30.

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.