Cerity Partners LLC Trims Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Cerity Partners LLC lessened its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 31.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 478,448 shares of the company’s stock after selling 215,969 shares during the period. Cerity Partners LLC’s holdings in Adaptive Biotechnologies were worth $2,868,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ADPT. Barclays PLC lifted its stake in Adaptive Biotechnologies by 149.5% in the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock worth $1,180,000 after purchasing an additional 137,936 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Adaptive Biotechnologies by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company’s stock worth $5,735,000 after buying an additional 39,831 shares during the period. FMR LLC lifted its stake in shares of Adaptive Biotechnologies by 102.0% during the 3rd quarter. FMR LLC now owns 233,566 shares of the company’s stock worth $1,196,000 after acquiring an additional 117,965 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Adaptive Biotechnologies during the 4th quarter valued at $860,000. Finally, State Street Corp grew its position in Adaptive Biotechnologies by 2.0% in the 3rd quarter. State Street Corp now owns 2,551,785 shares of the company’s stock valued at $13,065,000 after acquiring an additional 48,885 shares during the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock opened at $7.82 on Tuesday. The stock has a market cap of $1.16 billion, a PE ratio of -7.17 and a beta of 1.73. The firm has a fifty day moving average price of $7.91 and a 200 day moving average price of $6.66. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter last year, the company posted ($0.30) earnings per share. As a group, equities analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 158,921 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.46, for a total value of $1,344,471.66. Following the completion of the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,798,890.46. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Hershberg sold 53,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. This trade represents a 43.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 757,601 shares of company stock valued at $6,040,624. 6.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $8.00 to $9.00 in a research note on Friday, March 21st. Scotiabank increased their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. Finally, BTIG Research raised their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Five equities 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 a consensus target price 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.