Savant Capital LLC Acquires 5,305 Shares of Adaptive Biotechnologies Corporation $ADPT

Savant Capital LLC increased its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 15.4% during the second quarter, HoldingsChannel reports. The firm owned 39,665 shares of the company’s stock after buying an additional 5,305 shares during the period. Savant Capital LLC’s holdings in Adaptive Biotechnologies were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Versor Investments LP purchased a new position in Adaptive Biotechnologies in the 2nd quarter worth about $367,000. Peregrine Capital Management LLC bought a new stake in shares of Adaptive Biotechnologies in the second quarter worth approximately $8,187,000. Envestnet Asset Management Inc. purchased a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $467,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $2,464,000. Finally, AlphaQuest LLC lifted its position in Adaptive Biotechnologies by 28.2% during the second quarter. AlphaQuest LLC now owns 24,381 shares of the company’s stock valued at $284,000 after purchasing an additional 5,366 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $14.10 on Monday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -17.19 and a beta of 2.09. Adaptive Biotechnologies Corporation has a one year low of $4.27 and a one year high of $17.89. The business has a fifty day moving average price of $15.01 and a 200-day moving average price of $12.35.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $93.97 million for the quarter, compared to the consensus estimate of $58.76 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.Adaptive Biotechnologies’s quarterly revenue was up 102.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) earnings per share. On average, equities research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 10,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $14.82, for a total transaction of $148,200.00. Following the transaction, the insider owned 1,269,524 shares of the company’s stock, valued at $18,814,345.68. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad M. Robins sold 86,161 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $14.73, for a total transaction of $1,269,151.53. Following the completion of the sale, the chief executive officer directly owned 2,873,088 shares of the company’s stock, valued at approximately $42,320,586.24. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 99,265 shares of company stock worth $1,463,380. Insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADPT. Piper Sandler raised their target price on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Morgan Stanley raised their price target on Adaptive Biotechnologies from $11.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. TD Cowen upped their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. BTIG Research increased their target price on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.56.

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.