Geode Capital Management LLC Has $12.98 Million Stock Position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

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Geode Capital Management LLC boosted its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 106.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 467,236 shares of the company’s stock after buying an additional 240,540 shares during the period. Geode Capital Management LLC’s holdings in Adaptive Biotechnologies were worth $12,979,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Adaptive Biotechnologies by 57.1% in the 1st quarter. BlackRock Inc. now owns 4,960,832 shares of the company’s stock valued at $137,812,000 after buying an additional 1,802,283 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Adaptive Biotechnologies by 11,430.3% during the 1st quarter. Wellington Management Group LLP now owns 3,243,245 shares of the company’s stock worth $90,097,000 after purchasing an additional 3,215,117 shares in the last quarter. TimesSquare Capital Management LLC grew its position in shares of Adaptive Biotechnologies by 12.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,675,590 shares of the company’s stock worth $46,548,000 after purchasing an additional 184,709 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Adaptive Biotechnologies by 38.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,488,657 shares of the company’s stock worth $41,354,000 after purchasing an additional 416,712 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in shares of Adaptive Biotechnologies by 188.3% during the 1st quarter. Frontier Capital Management Co. LLC now owns 946,710 shares of the company’s stock worth $26,300,000 after purchasing an additional 618,353 shares in the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.

Several research firms recently issued reports on ADPT. BTIG Research reiterated a “buy” rating and set a $46.00 price target on shares of Adaptive Biotechnologies in a research report on Friday, April 17th. Zacks Investment Research lowered shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 3rd. They set a “buy” rating and a $60.00 price target on the stock. ValuEngine upgraded shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Finally, Guggenheim increased their price target on shares of Adaptive Biotechnologies from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $47.67.

In other news, insider Harlan S. Robins sold 11,100 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $46.88, for a total transaction of $520,368.00. Following the completion of the transaction, the insider now owns 11,779 shares of the company’s stock, valued at $552,199.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Chad M. Cohen sold 15,000 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $24.47, for a total transaction of $367,050.00. Following the transaction, the chief financial officer now directly owns 16,000 shares of the company’s stock, valued at approximately $391,520. The disclosure for this sale can be found here. Insiders have sold 646,140 shares of company stock valued at $24,165,127 in the last ninety days. Insiders own 22.20% of the company’s stock.

Shares of NASDAQ:ADPT opened at $46.06 on Wednesday. The firm has a 50 day simple moving average of $41.30 and a 200 day simple moving average of $31.90. Adaptive Biotechnologies Corporation has a one year low of $15.19 and a one year high of $55.12.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.04). The company had revenue of $20.91 million during the quarter, compared to the consensus estimate of $21.52 million. Adaptive Biotechnologies had a negative net margin of 87.47% and a negative return on equity of 22.92%. Adaptive Biotechnologies’s revenue for the quarter was up 65.1% on a year-over-year basis. On average, research analysts forecast that Adaptive Biotechnologies Corporation will post -1.05 earnings per share for the current fiscal year.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation 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 research questions that inform current and future clinical trials, as well as to discover new prognostic and diagnostic signals.

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Institutional Ownership by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

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