Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC boosted its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPTGet Rating) by 100.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,678 shares of the company’s stock after purchasing an additional 25,439 shares during the period. SG Americas Securities LLC’s holdings in Adaptive Biotechnologies were worth $410,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC acquired a new position in Adaptive Biotechnologies during the 1st quarter worth $43,000. PNC Financial Services Group Inc. grew its holdings in Adaptive Biotechnologies by 176.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock worth $73,000 after acquiring an additional 3,380 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Adaptive Biotechnologies during the 1st quarter worth $90,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Adaptive Biotechnologies during the 1st quarter worth $100,000. Finally, Royal Bank of Canada grew its holdings in Adaptive Biotechnologies by 56.2% during the 1st quarter. Royal Bank of Canada now owns 8,017 shares of the company’s stock worth $111,000 after acquiring an additional 2,885 shares in the last quarter. 93.49% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock opened at $8.89 on Friday. The firm’s 50 day simple moving average is $7.63 and its 200-day simple moving average is $8.49. The company has a market cap of $1.27 billion, a P/E ratio of -5.42 and a beta of 1.05. Adaptive Biotechnologies Co. has a fifty-two week low of $5.95 and a fifty-two week high of $37.55.

Adaptive Biotechnologies (NASDAQ:ADPTGet Rating) last released its earnings results on Thursday, November 3rd. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.05. The business had revenue of $47.80 million for the quarter, compared to the consensus estimate of $48.41 million. Adaptive Biotechnologies had a negative net margin of 145.37% and a negative return on equity of 39.90%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.40) earnings per share. On average, analysts expect that Adaptive Biotechnologies Co. will post -1.59 EPS for the current fiscal year.

Analysts Set New Price Targets

ADPT has been the subject of several research reports. BTIG Research decreased their price target on shares of Adaptive Biotechnologies to $17.00 in a report on Tuesday, August 9th. Credit Suisse Group began coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, August 24th. They set an “underperform” rating and a $8.00 price target on the stock. Finally, Piper Sandler dropped their price target on shares of Adaptive Biotechnologies from $12.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.64.

Insider Transactions at Adaptive Biotechnologies

In related news, insider Nitin Sood sold 31,066 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $8.00, for a total transaction of $248,528.00. Following the transaction, the insider now directly owns 114,505 shares of the company’s stock, valued at $916,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 34,191 shares of company stock valued at $271,213 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

About Adaptive Biotechnologies

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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.

See Also

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Institutional Ownership by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

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