abrdn plc Invests $4.58 Million in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

abrdn plc purchased a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 933,794 shares of the company’s stock, valued at approximately $4,576,000. abrdn plc owned 0.65% of Adaptive Biotechnologies at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ADPT. SG Americas Securities LLC raised its position in shares of Adaptive Biotechnologies by 46.6% during the third quarter. SG Americas Securities LLC now owns 58,720 shares of the company’s stock worth $320,000 after purchasing an additional 18,658 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Adaptive Biotechnologies by 6.8% during the third quarter. Commonwealth Equity Services LLC now owns 55,264 shares of the company’s stock worth $301,000 after buying an additional 3,498 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Adaptive Biotechnologies by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 375,908 shares of the company’s stock worth $2,049,000 after buying an additional 2,325 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Adaptive Biotechnologies by 2.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,570,939 shares of the company’s stock worth $35,812,000 after buying an additional 186,892 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Adaptive Biotechnologies by 1,760.6% during the third quarter. Assenagon Asset Management S.A. now owns 864,737 shares of the company’s stock worth $4,713,000 after buying an additional 818,262 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, February 15th. The Goldman Sachs Group decreased their price objective on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Finally, BTIG Research decreased their price objective on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.80.

Adaptive Biotechnologies Stock Down 0.4 %

ADPT stock opened at $2.60 on Friday. The business has a 50 day moving average price of $3.23 and a two-hundred day moving average price of $3.98. The company has a market cap of $377.23 million, a price-to-earnings ratio of -1.67 and a beta of 1.25. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $9.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. The firm had revenue of $45.78 million during the quarter, compared to the consensus estimate of $50.15 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. On average, equities research analysts anticipate that Adaptive Biotechnologies Co. will post -1.31 EPS for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In other news, SVP Stacy L. Taylor sold 13,381 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $45,896.83. Following the completion of the transaction, the senior vice president now directly owns 166,287 shares in the company, valued at approximately $570,364.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kyle Piskel sold 7,727 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $26,503.61. Following the completion of the transaction, the insider now directly owns 123,318 shares in the company, valued at approximately $422,980.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacy L. Taylor sold 13,381 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $45,896.83. Following the transaction, the senior vice president now owns 166,287 shares of the company’s stock, valued at $570,364.41. The disclosure for this sale can be found here. In the last three months, insiders sold 124,307 shares of company stock worth $428,090. 5.20% of the stock is owned by company insiders.

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.