Geode Capital Management LLC Has $37.46 Million Position in Adaptive Biotechnologies Corporation $ADPT

Geode Capital Management LLC grew its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 15.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,215,171 shares of the company’s stock after buying an additional 434,347 shares during the quarter. Geode Capital Management LLC owned approximately 2.11% of Adaptive Biotechnologies worth $37,461,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Verdence Capital Advisors LLC raised its holdings in Adaptive Biotechnologies by 6.8% during the second quarter. Verdence Capital Advisors LLC now owns 22,315 shares of the company’s stock worth $260,000 after acquiring an additional 1,426 shares in the last quarter. Fox Run Management L.L.C. raised its stake in shares of Adaptive Biotechnologies by 8.2% during the 1st quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company’s stock worth $160,000 after purchasing an additional 1,631 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Adaptive Biotechnologies by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,038 shares of the company’s stock valued at $373,000 after buying an additional 2,880 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Adaptive Biotechnologies by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock valued at $511,000 after buying an additional 2,914 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Adaptive Biotechnologies by 14.6% during the second quarter. ProShare Advisors LLC now owns 36,319 shares of the company’s stock worth $423,000 after buying an additional 4,617 shares during the last quarter. Institutional investors own 99.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their price target on Adaptive Biotechnologies from $11.00 to $16.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. BTIG Research upped their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Guggenheim assumed coverage on Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.56.

Insider Activity

In other news, insider Harlan S. Robins sold 10,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $14.82, for a total transaction of $148,200.00. Following the sale, the insider directly owned 1,269,524 shares of the company’s stock, valued at approximately $18,814,345.68. This represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad M. Robins sold 1,867 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $15.00, for a total transaction of $28,005.00. Following the completion of the transaction, the chief executive officer directly owned 2,869,975 shares in the company, valued at approximately $43,049,625. This represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 705,905 shares of company stock worth $11,610,749. 6.40% of the stock is currently owned by company insiders.

Adaptive Biotechnologies Stock Performance

ADPT stock opened at $19.72 on Thursday. Adaptive Biotechnologies Corporation has a 52 week low of $5.52 and a 52 week high of $20.76. The company has a market capitalization of $3.01 billion, a PE ratio of -24.05 and a beta of 2.09. The company’s 50-day simple moving average is $15.72 and its 200 day simple moving average is $12.78.

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

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.