Arizona State Retirement System Buys Shares of 29,932 Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Arizona State Retirement System bought a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,932 shares of the company’s stock, valued at approximately $179,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADPT. KBC Group NV acquired a new stake in Adaptive Biotechnologies during the 4th quarter valued at approximately $50,000. Townsquare Capital LLC acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $56,000. GAMMA Investing LLC acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $59,000. Centiva Capital LP acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $80,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $93,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ADPT. 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 report on Thursday, February 13th. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price objective (up previously 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Adaptive Biotechnologies has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 211,160 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at approximately $21,901,958.50. This trade represents a 7.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Piskel sold 10,320 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $72,033.60. Following the transaction, the chief financial officer now owns 269,010 shares in the company, valued at approximately $1,877,689.80. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 755,903 shares of company stock worth $6,025,342. Corporate insiders own 6.20% of the company’s stock.

Adaptive Biotechnologies Stock Up 1.5 %

Shares of ADPT opened at $7.28 on Friday. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $8.95. The business’s fifty day moving average is $7.65 and its 200 day moving average is $6.12. The stock has a market cap of $1.08 billion, a P/E ratio of -6.68 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 quarter in the previous year, the firm posted ($0.30) EPS. On average, analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

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.