The Manufacturers Life Insurance Company Has $264,000 Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

The Manufacturers Life Insurance Company decreased its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,962 shares of the company’s stock after selling 3,321 shares during the period. The Manufacturers Life Insurance Company’s holdings in Adaptive Biotechnologies were worth $264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Impact Partnership Wealth LLC lifted its position in Adaptive Biotechnologies by 8.8% during the 4th quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock worth $114,000 after acquiring an additional 1,539 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Adaptive Biotechnologies by 2.7% during the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock worth $486,000 after acquiring an additional 2,163 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Adaptive Biotechnologies by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock worth $188,000 after acquiring an additional 2,928 shares during the last quarter. MetLife Investment Management LLC lifted its position in Adaptive Biotechnologies by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 68,976 shares of the company’s stock worth $414,000 after acquiring an additional 3,650 shares during the last quarter. Finally, Amundi lifted its position in Adaptive Biotechnologies by 41.2% during the 4th quarter. Amundi now owns 15,532 shares of the company’s stock worth $93,000 after acquiring an additional 4,531 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $9.05 on Monday. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -8.30 and a beta of 1.75. The firm’s 50-day moving average is $8.03 and its 200-day moving average is $7.23. Adaptive Biotechnologies Co. has a 52-week low of $2.99 and a 52-week high of $10.28.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $52.44 million for the quarter, compared to analysts’ expectations of $42.13 million. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. Equities analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADPT shares. Scotiabank boosted their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Morgan Stanley boosted their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Piper Sandler restated an “overweight” rating and set a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.83.

Insider Activity at Adaptive Biotechnologies

In related news, insider Harlan S. Robins sold 68,412 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $7.35, for a total value of $502,828.20. Following the sale, the insider now owns 1,279,524 shares of the company’s stock, valued at $9,404,501.40. The trade was a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Francis Lo sold 20,875 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total transaction of $145,916.25. Following the completion of the sale, the insider now directly owns 332,846 shares in the company, valued at approximately $2,326,593.54. The trade was a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 667,092 shares of company stock valued at $5,198,980 over the last quarter. 6.40% of the stock is owned by company insiders.

About Adaptive Biotechnologies

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.