Russell Investments Group Ltd. Grows Stake in Adaptive Biotechnologies Corporation $ADPT

Russell Investments Group Ltd. raised its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 255.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 589,611 shares of the company’s stock after acquiring an additional 423,780 shares during the quarter. Russell Investments Group Ltd.’s holdings in Adaptive Biotechnologies were worth $6,869,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC lifted its position in shares of Adaptive Biotechnologies by 6.8% in the second quarter. Verdence Capital Advisors LLC now owns 22,315 shares of the company’s stock valued at $260,000 after acquiring an additional 1,426 shares in the last quarter. Fox Run Management L.L.C. raised its stake in Adaptive Biotechnologies by 8.2% in the 1st quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company’s stock valued at $160,000 after purchasing an additional 1,631 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Adaptive Biotechnologies by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,038 shares of the company’s stock valued at $373,000 after purchasing an additional 2,880 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Adaptive Biotechnologies by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock valued at $511,000 after purchasing an additional 2,914 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Adaptive Biotechnologies by 35.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 15,258 shares of the company’s stock worth $178,000 after purchasing an additional 3,972 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 124,998 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $18.94, for a total value of $2,367,462.12. Following the sale, the chief executive officer directly owned 2,709,241 shares in the company, valued at approximately $51,313,024.54. The trade was a 4.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sharon Benzeno sold 308,477 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $16.91, for a total transaction of $5,216,346.07. Following the transaction, the insider directly owned 296,791 shares of the company’s stock, valued at approximately $5,018,735.81. This trade represents a 50.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,029,459 shares of company stock valued at $17,856,486 in the last quarter. Corporate insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADPT shares. Wall Street Zen upgraded shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Guggenheim began coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price objective for the company. Morgan Stanley began coverage on shares of Adaptive Biotechnologies in a research note on Monday. They issued an “equal weight” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, BTIG Research increased their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $17.46 on Friday. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -32.33 and a beta of 2.20. The company’s 50-day moving average is $16.33 and its two-hundred day moving average is $13.15. Adaptive Biotechnologies Corporation has a 1-year low of $5.80 and a 1-year high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $93.97 million during the quarter, compared to the consensus estimate of $58.76 million. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The business’s revenue was up 102.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

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.