Adaptive Biotechnologies Co. (NASDAQ:ADPT) Holdings Increased by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,202 shares of the company’s stock after buying an additional 5,361 shares during the quarter. Rhumbline Advisers owned about 0.12% of Adaptive Biotechnologies worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADPT. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth about $34,000. KBC Group NV bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth about $50,000. Townsquare Capital LLC bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth about $56,000. GAMMA Investing LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth about $59,000. Finally, Centiva Capital LP bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth about $80,000. 99.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Chad M. Robins sold 211,160 shares of the business’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 sale, the chief executive officer now owns 2,576,701 shares in the company, valued at $21,901,958.50. The trade was a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 469,188 shares of company stock worth $3,975,795 over the last 90 days. 6.20% of the stock is owned by company insiders.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $8.03 on Thursday. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $8.95. The company’s 50 day simple moving average is $7.47 and its 200 day simple moving average is $5.98. The company has a market capitalization of $1.19 billion, a P/E ratio of -7.37 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter last year, the company earned ($0.30) EPS. On average, analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on ADPT shares. Piper Sandler reiterated an “overweight” rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.10.

Adaptive Biotechnologies 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.