Bank of New York Mellon Corp Has $2.18 Million Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Bank of New York Mellon Corp reduced its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 363,906 shares of the company’s stock after selling 5,780 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.25% of Adaptive Biotechnologies worth $2,182,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADPT. GSA Capital Partners LLP bought a new position in Adaptive Biotechnologies during the third quarter valued at approximately $247,000. Jennison Associates LLC raised its position 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 valued at $1,185,000 after purchasing an additional 53,908 shares during the period. Intech Investment Management LLC bought a new position in shares of Adaptive Biotechnologies in the third quarter valued at approximately $176,000. Charles Schwab Investment Management Inc. raised its position in shares of Adaptive Biotechnologies by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,743 shares of the company’s stock valued at $4,694,000 after purchasing an additional 10,262 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Adaptive Biotechnologies by 58.7% in the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock valued at $3,555,000 after purchasing an additional 256,933 shares during the period. Institutional investors own 99.17% of the company’s stock.

Insider Activity at Adaptive Biotechnologies

In related news, insider Francis Lo sold 20,875 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total value of $145,916.25. Following the sale, the insider now directly owns 332,846 shares of the company’s stock, valued at $2,326,593.54. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Hershberg sold 53,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the completion of the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. This trade represents a 43.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 755,903 shares of company stock worth $6,025,342. Company insiders own 6.20% of the company’s stock.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $8.40 on Friday. The stock has a market cap of $1.25 billion, a PE ratio of -7.71 and a beta of 1.53. The stock has a 50-day moving average of $7.74 and a 200-day moving average of $6.22. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted ($0.30) earnings per share. As a group, research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADPT shares. BTIG Research lifted their price target 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 raised shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $8.00 to $9.00 in a research report on Friday. Scotiabank raised their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.40.

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.