Geode Capital Management LLC Buys 22,628 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Geode Capital Management LLC grew its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 0.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,684,506 shares of the company’s stock after buying an additional 22,628 shares during the period. Geode Capital Management LLC’s holdings in Adaptive Biotechnologies were worth $16,098,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADPT. State Street Corp increased its position in Adaptive Biotechnologies by 2.0% during the 3rd quarter. State Street Corp now owns 2,551,785 shares of the company’s stock valued at $13,065,000 after purchasing an additional 48,885 shares during the period. Barclays PLC boosted its stake in shares of Adaptive Biotechnologies by 149.5% in the 3rd quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after purchasing an additional 137,936 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Adaptive Biotechnologies by 48.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company’s stock valued at $102,000 after purchasing an additional 6,500 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $59,000. Finally, SG Americas Securities LLC raised its stake in Adaptive Biotechnologies by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 45,944 shares of the company’s stock worth $275,000 after buying an additional 4,799 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Price Performance

ADPT stock opened at $7.33 on Monday. Adaptive Biotechnologies Co. has a 1 year low of $2.36 and a 1 year high of $9.01. The stock has a market capitalization of $1.09 billion, a PE ratio of -6.72 and a beta of 1.73. The company’s 50-day moving average is $7.88 and its 200-day moving average is $6.73.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data 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. On average, analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In other news, Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad M. Robins sold 158,921 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at approximately $21,798,890.46. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 757,601 shares of company stock valued at $6,040,624. 6.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ADPT shares. Scotiabank increased their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group raised Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $8.00 to $9.00 in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of “Buy” and a consensus 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.