Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stake Decreased by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,212,660 shares of the company’s stock after selling 172,547 shares during the period. Federated Hermes Inc. owned 0.84% of Adaptive Biotechnologies worth $5,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ARK Investment Management LLC raised its holdings in shares of Adaptive Biotechnologies by 11.3% during the fourth quarter. ARK Investment Management LLC now owns 12,806,513 shares of the company’s stock valued at $62,752,000 after buying an additional 1,297,205 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Adaptive Biotechnologies by 1,760.6% during the third quarter. Assenagon Asset Management S.A. now owns 864,737 shares of the company’s stock valued at $4,713,000 after buying an additional 818,262 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Adaptive Biotechnologies by 11.7% during the third quarter. American Century Companies Inc. now owns 824,318 shares of the company’s stock valued at $4,493,000 after buying an additional 86,478 shares during the last quarter. SG Americas Securities LLC raised its holdings in Adaptive Biotechnologies by 20.2% during the fourth quarter. SG Americas Securities LLC now owns 70,571 shares of the company’s stock worth $346,000 after purchasing an additional 11,851 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Adaptive Biotechnologies by 1.7% during the third quarter. Swiss National Bank now owns 222,100 shares of the company’s stock worth $1,210,000 after purchasing an additional 3,800 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $2.61 on Friday. The stock has a market capitalization of $378.68 million, a P/E ratio of -1.67 and a beta of 1.25. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $9.08. The business’s fifty day moving average is $3.28 and its two-hundred day moving average is $4.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.02. The company had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $50.15 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. On average, research analysts forecast that Adaptive Biotechnologies Co. will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, SVP Stacy L. Taylor sold 13,381 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $45,896.83. Following the transaction, the senior vice president now directly owns 166,287 shares in the company, valued at approximately $570,364.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 48,673 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $166,948.39. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at approximately $8,838,084.43. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stacy L. Taylor sold 13,381 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $45,896.83. Following the transaction, the senior vice president now owns 166,287 shares in the company, valued at $570,364.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,307 shares of company stock worth $428,090. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ADPT. JPMorgan Chase & Co. dropped their target price on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, February 15th. The Goldman Sachs Group dropped their target price on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Finally, BTIG Research dropped their target price on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.80.

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.