Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 154,900 shares of the company’s stock, valued at approximately $9,159,000.
A number of other large investors have also recently made changes to their positions in the stock. UBS Asset Management Americas Inc. increased its position in shares of Adaptive Biotechnologies by 4.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 245,491 shares of the company’s stock valued at $11,938,000 after purchasing an additional 10,779 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Adaptive Biotechnologies by 241.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 540,851 shares of the company’s stock valued at $26,302,000 after purchasing an additional 382,289 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Adaptive Biotechnologies by 7.9% in the 3rd quarter. ProShare Advisors LLC now owns 21,883 shares of the company’s stock worth $1,064,000 after purchasing an additional 1,609 shares in the last quarter. Morgan Stanley raised its holdings in shares of Adaptive Biotechnologies by 39.2% in the 3rd quarter. Morgan Stanley now owns 297,346 shares of the company’s stock worth $14,460,000 after purchasing an additional 83,804 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its stake in Adaptive Biotechnologies by 135.9% during the third quarter. Point72 Hong Kong Ltd now owns 10,232 shares of the company’s stock valued at $498,000 after purchasing an additional 5,895 shares during the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on ADPT shares. Zacks Investment Research lowered shares of Adaptive Biotechnologies from a “hold” rating to a “sell” rating in a research note on Tuesday, January 12th. Morgan Stanley lifted their target price on shares of Adaptive Biotechnologies from $46.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, March 4th. BTIG Research upped their price target on shares of Adaptive Biotechnologies from $66.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, January 19th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $63.00 price objective (down previously from $74.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, March 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Adaptive Biotechnologies presently has an average rating of “Hold” and a consensus target price of $59.33.
Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, February 23rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.04). Adaptive Biotechnologies had a negative return on equity of 20.15% and a negative net margin of 132.32%. The business had revenue of $30.19 million during the quarter, compared to the consensus estimate of $27.08 million. As a group, sell-side analysts expect that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current fiscal year.
In other news, CFO Chad M. Cohen sold 75,000 shares of the business’s stock in a transaction on Tuesday, January 12th. The shares were sold at an average price of $62.59, for a total value of $4,694,250.00. Following the completion of the sale, the chief financial officer now directly owns 76,000 shares in the company, valued at $4,756,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Stacy L. Taylor sold 2,813 shares of the firm’s stock in a transaction on Friday, January 29th. The shares were sold at an average price of $56.51, for a total transaction of $158,962.63. Following the completion of the transaction, the senior vice president now owns 2,342 shares in the company, valued at $132,346.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,264,609 shares of company stock valued at $65,272,781. 22.20% of the stock is currently owned by corporate insiders.
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 immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.
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