10,839 Shares in Adaptive Biotechnologies Co. (NASDAQ:ADPT) Bought by Cibc World Markets Corp

Cibc World Markets Corp acquired a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,839 shares of the company’s stock, valued at approximately $65,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at about $50,000. GAMMA Investing LLC acquired a new position in Adaptive Biotechnologies in the fourth quarter valued at approximately $59,000. Townsquare Capital LLC bought a new position in shares of Adaptive Biotechnologies during the third quarter valued at approximately $56,000. Amundi raised its position in shares of Adaptive Biotechnologies by 41.2% during the 4th quarter. Amundi now owns 15,532 shares of the company’s stock worth $93,000 after purchasing an additional 4,531 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $93,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ADPT shares. The Goldman Sachs Group upgraded Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $8.00 to $9.00 in a research note on Friday, March 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price objective (up previously 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 company a “sector outperform” rating in a research note on Thursday, February 13th. Finally, BTIG Research raised their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.40.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $8.22 on Friday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.54 and a beta of 1.53. The stock’s fifty day moving average is $7.88 and its 200-day moving average is $6.33. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate 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 in the previous year, the business posted ($0.30) EPS. Analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Chad M. Robins sold 158,921 shares of Adaptive Biotechnologies stock in a transaction on Friday, February 14th. The stock was sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at approximately $21,798,890.46. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Piskel sold 10,320 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total value of $72,033.60. Following the completion of the sale, the chief financial officer now directly owns 269,010 shares in the company, valued at $1,877,689.80. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 757,601 shares of company stock valued at $6,040,624 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

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.