US Bancorp DE Sells 43,819 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

US Bancorp DE lowered its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,287 shares of the company’s stock after selling 43,819 shares during the period. US Bancorp DE owned about 0.08% of Adaptive Biotechnologies worth $715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at $34,000. GSA Capital Partners LLP bought a new stake in Adaptive Biotechnologies during the third quarter valued at approximately $247,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Adaptive Biotechnologies by 12.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after acquiring an additional 834,253 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Adaptive Biotechnologies by 30.3% in the third quarter. Jennison Associates LLC now owns 231,531 shares of the company’s stock worth $1,185,000 after buying an additional 53,908 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Adaptive Biotechnologies in the third quarter worth $176,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Down 9.3 %

Shares of NASDAQ:ADPT opened at $6.67 on Tuesday. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $8.95. The business’s fifty day simple moving average is $7.56 and its 200-day simple moving average is $6.06. The company has a market capitalization of $991.04 million, a PE ratio of -6.12 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period in the previous year, the firm earned ($0.30) earnings per share. Research analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Chad M. Robins sold 211,160 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total value 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. This represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michelle Renee Griffin sold 15,664 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $7.94, for a total value of $124,372.16. Following the completion of the sale, the director now owns 51,685 shares in the company, valued at approximately $410,378.90. This represents a 23.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 692,903 shares of company stock valued at $5,552,572. Insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.