Adaptive Biotechnologies Co. (NASDAQ:ADPT) Holdings Lowered by Peregrine Capital Management LLC

Peregrine Capital Management LLC reduced its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,638 shares of the company’s stock after selling 64,317 shares during the quarter. Peregrine Capital Management LLC owned 0.26% of Adaptive Biotechnologies worth $1,841,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Middle East FZE bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. raised its holdings in shares of Adaptive Biotechnologies by 176.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock worth $73,000 after purchasing an additional 3,380 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Adaptive Biotechnologies by 407.8% in the 4th quarter. Meeder Asset Management Inc. now owns 5,632 shares of the company’s stock worth $43,000 after purchasing an additional 4,523 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Adaptive Biotechnologies in the first quarter worth approximately $90,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Adaptive Biotechnologies in the first quarter worth approximately $100,000. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $2.62 on Friday. The company’s 50 day moving average price is $3.48 and its 200 day moving average price is $4.18. Adaptive Biotechnologies Co. has a 52 week low of $2.53 and a 52 week high of $9.08. The company has a market capitalization of $380.14 million, a PE ratio of -1.68 and a beta of 1.25.

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

Insider Buying and Selling at Adaptive Biotechnologies

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 value of $166,948.39. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $8,838,084.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Stacy L. Taylor sold 13,381 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $45,896.83. Following the completion of the sale, the senior vice president now directly owns 166,287 shares in the company, valued at $570,364.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chad M. Robins sold 48,673 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $166,948.39. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The disclosure for this sale can be found here. Insiders sold 124,307 shares of company stock worth $428,090 over the last ninety days. 5.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADPT has been the topic of several analyst reports. BTIG Research dropped their target price on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. JPMorgan Chase & Co. dropped their target price on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group dropped their target price on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.