First Trust Advisors LP Invests $99,000 in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

First Trust Advisors LP purchased a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the fourth quarter, Holdings Channel.com reports. The fund purchased 16,457 shares of the company’s stock, valued at approximately $99,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at about $50,000. GAMMA Investing LLC acquired a new position in Adaptive Biotechnologies in the 4th quarter valued at approximately $59,000. Cibc World Markets Corp purchased a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $65,000. Amundi grew its stake in shares of Adaptive Biotechnologies by 41.2% in the 4th quarter. Amundi now owns 15,532 shares of the company’s stock valued at $93,000 after buying an additional 4,531 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $93,000. Institutional investors own 99.17% of the company’s stock.

Insider Activity

In other news, CEO Chad M. Robins sold 211,160 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at approximately $21,901,958.50. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Hershberg sold 53,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at approximately $528,947.10. This trade represents a 43.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 826,013 shares of company stock worth $6,543,452. Corporate insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

ADPT has been the subject of a number of recent analyst reports. Scotiabank upped their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Piper Sandler restated an “overweight” rating and set a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their price target on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT opened at $9.03 on Monday. Adaptive Biotechnologies Co. has a one year low of $2.99 and a one year high of $10.28. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -8.28 and a beta of 1.75. The stock’s fifty day moving average price is $7.86 and its two-hundred day moving average price is $7.07.

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