Intech Investment Management LLC Purchases 11,865 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Intech Investment Management LLC increased its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 34.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 46,158 shares of the company’s stock after buying an additional 11,865 shares during the period. Intech Investment Management LLC’s holdings in Adaptive Biotechnologies were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. KBC Group NV bought a new position in Adaptive Biotechnologies in the 4th quarter valued at $50,000. GAMMA Investing LLC purchased a new position in shares of Adaptive Biotechnologies in the 4th quarter worth about $59,000. Cibc World Markets Corp bought a new position in Adaptive Biotechnologies during the fourth quarter valued at about $65,000. Townsquare Capital LLC purchased a new stake in Adaptive Biotechnologies during the third quarter worth about $56,000. Finally, Amundi raised its position in Adaptive Biotechnologies by 41.2% in the fourth quarter. Amundi now owns 15,532 shares of the company’s stock worth $93,000 after acquiring an additional 4,531 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Trading Down 2.1 %

Shares of NASDAQ:ADPT opened at $8.24 on Thursday. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $9.01. The stock has a market cap of $1.22 billion, a P/E ratio of -7.56 and a beta of 1.53. The company has a 50 day moving average of $7.85 and a 200 day moving average of $6.32.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same period in the previous year, the company earned ($0.30) EPS. On average, equities analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, Director Robert Hershberg sold 53,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 69,690 shares in the company, valued at approximately $528,947.10. This represents a 43.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter M. Neupert sold 10,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the sale, the director now owns 224,690 shares of the company’s stock, valued at approximately $1,584,064.50. The trade was a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 757,601 shares of company stock valued at $6,040,624 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ADPT shares. Piper Sandler reissued an “overweight” rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Scotiabank boosted their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group upgraded Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $8.00 to $9.00 in a research report on Friday, March 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Buy” and an average price target of $9.40.

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 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.