Driehaus Capital Management LLC Buys 410,877 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Driehaus Capital Management LLC grew its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 94.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 846,171 shares of the company’s stock after purchasing an additional 410,877 shares during the quarter. Driehaus Capital Management LLC owned about 0.57% of Adaptive Biotechnologies worth $5,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADPT. Voya Investment Management LLC increased its holdings in Adaptive Biotechnologies by 6,121.7% during the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company’s stock worth $14,560,000 after buying an additional 2,389,674 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Adaptive Biotechnologies by 794.0% during the 4th quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company’s stock worth $4,417,000 after purchasing an additional 654,309 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Adaptive Biotechnologies by 17.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock valued at $20,209,000 after purchasing an additional 489,555 shares during the period. Prudential Financial Inc. lifted its stake in Adaptive Biotechnologies by 3,290.8% in the 4th quarter. Prudential Financial Inc. now owns 481,965 shares of the company’s stock valued at $2,889,000 after purchasing an additional 467,751 shares during the last quarter. Finally, Algert Global LLC grew its holdings in Adaptive Biotechnologies by 464.1% during the fourth quarter. Algert Global LLC now owns 430,514 shares of the company’s stock worth $2,581,000 after purchasing an additional 354,191 shares during the period. Institutional investors own 99.17% of the company’s stock.

Insider Buying and Selling

In other news, CEO Chad M. Robins sold 211,160 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $21,901,958.50. This represents a 7.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kyle Piskel sold 10,320 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $72,033.60. Following the transaction, the chief financial officer now owns 269,010 shares of the company’s stock, valued at approximately $1,877,689.80. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 826,013 shares of company stock valued at $6,543,452 over the last quarter. 6.20% of the stock is owned by company insiders.

Adaptive Biotechnologies Stock Down 2.6 %

Shares of NASDAQ:ADPT opened at $9.03 on Friday. Adaptive Biotechnologies Co. has a 12-month low of $2.99 and a 12-month high of $10.28. The company’s 50 day moving average price is $7.84 and its two-hundred day moving average price is $7.01. The firm has a market cap of $1.37 billion, a PE ratio of -8.28 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $52.44 million for the quarter, compared to the consensus estimate of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.33) earnings per share. On average, research analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price objective (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday. Morgan Stanley raised their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Finally, Scotiabank upped their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

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.