Mackenzie Financial Corp acquired a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,230 shares of the company's stock, valued at approximately $83,000.
Other large investors have also modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its stake in shares of Adaptive Biotechnologies by 58.4% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 294,645 shares of the company's stock worth $2,384,000 after acquiring an additional 108,686 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Adaptive Biotechnologies by 61.3% during the 2nd quarter. ProShare Advisors LLC now owns 23,601 shares of the company's stock worth $192,000 after acquiring an additional 8,966 shares in the last quarter. Stanley Laman Group Ltd. boosted its stake in shares of Adaptive Biotechnologies by 7.8% during the 2nd quarter. Stanley Laman Group Ltd. now owns 114,780 shares of the company's stock worth $929,000 after acquiring an additional 8,288 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of Adaptive Biotechnologies in the first quarter valued at $43,000. Finally, Hedeker Wealth LLC purchased a new stake in shares of Adaptive Biotechnologies in the second quarter valued at $1,063,000. 93.49% of the stock is owned by institutional investors.
Get Adaptive Biotechnologies alerts:Insider Activity
In other news, insider Nitin Sood sold 31,066 shares of the firm's stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $8.00, for a total value of $248,528.00. Following the sale, the insider now directly owns 114,505 shares of the company's stock, valued at $916,040. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 35,150 shares of company stock valued at $279,719. 4.20% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
ADPT has been the subject of a number of research analyst reports. Credit Suisse Group initiated coverage on Adaptive Biotechnologies in a report on Wednesday, August 24th. They issued an "underperform" rating and a $8.00 target price for the company. Piper Sandler reduced their target price on Adaptive Biotechnologies from $12.00 to $7.50 and set a "neutral" rating for the company in a report on Wednesday, October 26th. Morgan Stanley reduced their target price on Adaptive Biotechnologies from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Monday, November 7th. Finally, BTIG Research reduced their target price on Adaptive Biotechnologies to $17.00 in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of "Hold" and a consensus price target of $20.07.Adaptive Biotechnologies Price Performance
Adaptive Biotechnologies stock opened at $7.86 on Wednesday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.04 and a beta of 1.05. Adaptive Biotechnologies Co. has a one year low of $5.95 and a one year high of $30.51. The company's fifty day moving average price is $7.54 and its two-hundred day moving average price is $8.46.
Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.05. The company had revenue of $47.80 million for the quarter, compared to the consensus estimate of $48.41 million. Adaptive Biotechnologies had a negative return on equity of 40.95% and a negative net margin of 131.81%. The firm's revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business posted ($0.40) earnings per share. As a group, sell-side analysts anticipate that Adaptive Biotechnologies Co. will post -1.51 earnings per share for the current year.
Adaptive Biotechnologies Profile
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Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.
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