Corebridge Financial Inc. Trims Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Corebridge Financial Inc. decreased its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 7.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 57,583 shares of the company’s stock after selling 4,347 shares during the period. Corebridge Financial Inc.’s holdings in Adaptive Biotechnologies were worth $345,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ADPT. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth about $50,000. GAMMA Investing LLC purchased a new stake in Adaptive Biotechnologies in the 4th quarter worth approximately $59,000. Cibc World Markets Corp bought a new position in Adaptive Biotechnologies in the 4th quarter valued at $65,000. Centiva Capital LP purchased a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at $80,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter worth $93,000. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Down 7.9 %

Shares of ADPT opened at $7.72 on Friday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -7.08 and a beta of 1.73. The business’s fifty day simple moving average is $7.90 and its two-hundred day simple moving average is $6.60. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data 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 return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter in the previous year, the firm earned ($0.30) EPS. As a group, research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

ADPT has been the topic of a number of recent analyst reports. BTIG Research raised their target price 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. Scotiabank upped their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and issued a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and raised their target price 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, According to MarketBeat.com, Adaptive Biotechnologies has an average rating of “Buy” and a consensus target price of $9.40.

Insider Activity

In other Adaptive Biotechnologies news, Director Peter M. Neupert sold 10,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.05, for a total value of $70,500.00. Following the transaction, the director now owns 224,690 shares of the company’s stock, valued at approximately $1,584,064.50. This represents a 4.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Francis Lo sold 20,875 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total value of $145,916.25. Following the sale, the insider now owns 332,846 shares of the company’s stock, valued at approximately $2,326,593.54. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 757,601 shares of company stock valued at $6,040,624 over the last three months. Insiders own 6.20% of the company’s stock.

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.