Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,714,888 shares of the company's stock after purchasing an additional 75,448 shares during the period. Vanguard Group Inc. owned about 7.26% of Adaptive Biotechnologies worth $64,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in Adaptive Biotechnologies by 2.0% during the third quarter. State Street Corp now owns 2,551,785 shares of the company's stock worth $13,065,000 after buying an additional 48,885 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Adaptive Biotechnologies by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company's stock worth $5,735,000 after acquiring an additional 39,831 shares in the last quarter. FMR LLC boosted its stake in shares of Adaptive Biotechnologies by 102.0% during the 3rd quarter. FMR LLC now owns 233,566 shares of the company's stock worth $1,196,000 after acquiring an additional 117,965 shares in the last quarter. Barclays PLC increased its stake in shares of Adaptive Biotechnologies by 149.5% in the 3rd quarter. Barclays PLC now owns 230,177 shares of the company's stock valued at $1,180,000 after purchasing an additional 137,936 shares in the last quarter. Finally, Swiss National Bank acquired a new position in Adaptive Biotechnologies in the 4th quarter worth about $1,218,000. Institutional investors and hedge funds own 99.17% of the company's stock.

Remove Ads

Insider Activity

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 53,000 shares of the business's stock in a transaction 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 transaction, the director now owns 69,690 shares of the company's stock, valued at approximately $528,947.10. The trade was a 43.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter M. Neupert sold 10,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $7.05, for a total value of $70,500.00. Following the completion of the sale, the director now directly owns 224,690 shares of the company's stock, valued at $1,584,064.50. This trade represents a 4.26 % 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 over the last ninety days. Corporate insiders own 6.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ADPT shares. BTIG Research boosted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company 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 boosted their price target for the stock from $8.00 to $9.00 in a report on Friday, March 21st. Scotiabank increased their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. Finally, Piper Sandler reissued an "overweight" rating and set a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $9.40.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT traded down $0.08 during mid-day trading on Tuesday, hitting $7.74. The stock had a trading volume of 1,484,143 shares, compared to its average volume of 1,504,823. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $9.01. The firm's 50 day moving average is $7.91 and its 200 day moving average is $6.66. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.10 and a beta of 1.73.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping analysts' consensus estimates 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 firm earned ($0.30) EPS. As a group, equities research analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

About Adaptive Biotechnologies

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.