Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 154,900 shares of the company’s stock, valued at approximately $9,159,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.11% of Adaptive Biotechnologies as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in Adaptive Biotechnologies by 55.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,954,776 shares of the company’s stock valued at $352,106,000 after purchasing an additional 2,114,378 shares during the period. Wells Fargo & Company MN increased its position in Adaptive Biotechnologies by 21.3% during the 4th quarter. Wells Fargo & Company MN now owns 1,337,827 shares of the company’s stock worth $79,105,000 after purchasing an additional 234,854 shares during the period. Zevenbergen Capital Investments LLC raised its stake in shares of Adaptive Biotechnologies by 0.5% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 997,249 shares of the company’s stock worth $58,967,000 after buying an additional 4,610 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Adaptive Biotechnologies by 10.7% in the 4th quarter. Bank of New York Mellon Corp now owns 867,533 shares of the company’s stock valued at $51,298,000 after buying an additional 83,916 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Adaptive Biotechnologies by 44.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 656,031 shares of the company’s stock valued at $38,791,000 after buying an additional 202,890 shares in the last quarter. Institutional investors and hedge funds own 80.80% of the company’s stock.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Adaptive Biotechnologies from a “hold” rating to a “sell” rating in a report on Tuesday, January 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $63.00 price objective (down previously from $74.00) on shares of Adaptive Biotechnologies in a report on Tuesday, March 9th. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $66.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, January 19th. Finally, Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $46.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, March 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $59.33.
Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 23rd. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Adaptive Biotechnologies had a negative net margin of 132.32% and a negative return on equity of 20.15%. The business had revenue of $30.19 million during the quarter, compared to analyst estimates of $27.08 million. As a group, sell-side analysts predict that Adaptive Biotechnologies Co. will post -1.08 EPS for the current year.
In related news, SVP Stacy L. Taylor sold 4,167 shares of the business’s stock in a transaction dated Wednesday, March 31st. The shares were sold at an average price of $40.00, for a total value of $166,680.00. Following the completion of the transaction, the senior vice president now owns 16,078 shares of the company’s stock, valued at approximately $643,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad M. Robins sold 8,400 shares of the company’s stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $70.43, for a total transaction of $591,612.00. Following the completion of the transaction, the chief executive officer now owns 1,769,880 shares in the company, valued at $124,652,648.40. The disclosure for this sale can be found here. Insiders have sold 1,264,609 shares of company stock valued at $65,272,781 in the last three months. 22.20% of the stock is currently 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 immunoSEQ research service and kit 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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