Virtu Financial LLC Purchases New Shares in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Virtu Financial LLC purchased a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,461 shares of the company’s stock, valued at approximately $382,000.

A number of other hedge funds have also added to or reduced their stakes in ADPT. Price T Rowe Associates Inc. MD increased its holdings in Adaptive Biotechnologies by 55.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,954,776 shares of the company’s stock valued at $352,106,000 after purchasing an additional 2,114,378 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Adaptive Biotechnologies by 241.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 540,851 shares of the company’s stock valued at $26,302,000 after buying an additional 382,289 shares during the period. Wells Fargo & Company MN increased its stake in shares of Adaptive Biotechnologies by 21.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,337,827 shares of the company’s stock valued at $79,105,000 after buying an additional 234,854 shares during the period. Blue Water Life Science Advisors LLC acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at $12,305,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Adaptive Biotechnologies by 44.8% in the 4th quarter. Lord Abbett & CO. LLC now owns 656,031 shares of the company’s stock valued at $38,791,000 after buying an additional 202,890 shares during the period. 80.80% of the stock is owned by hedge funds and other institutional investors.

ADPT has been the subject of several research reports. Morgan Stanley lifted their target price on Adaptive Biotechnologies from $46.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, March 4th. Zacks Investment Research cut Adaptive Biotechnologies from a “hold” rating to a “sell” rating in a research note on Tuesday, January 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $63.00 target price (down from $74.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, March 9th. Finally, BTIG Research lifted their price objective on Adaptive Biotechnologies from $66.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, January 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $59.33.

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 8,400 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $70.43, for a total transaction of $591,612.00. Following the transaction, the chief executive officer now directly owns 1,769,880 shares in the company, valued at $124,652,648.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Chad M. Robins sold 10,000 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $63.53, for a total value of $635,300.00. Following the transaction, the chief executive officer now owns 1,765,930 shares in the company, valued at $112,189,532.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,264,609 shares of company stock worth $65,272,781. Corporate insiders own 22.20% of the company’s stock.

Shares of Adaptive Biotechnologies stock opened at $40.63 on Thursday. The business has a fifty day simple moving average of $46.63 and a 200 day simple moving average of $52.54. The stock has a market cap of $5.66 billion, a PE ratio of -42.77 and a beta of 0.35. Adaptive Biotechnologies Co. has a 12 month low of $23.68 and a 12 month high of $71.25.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, February 23rd. The company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). The business had revenue of $30.19 million for the quarter, compared to the consensus estimate of $27.08 million. Adaptive Biotechnologies had a negative return on equity of 20.15% and a negative net margin of 132.32%. As a group, research analysts predict that Adaptive Biotechnologies Co. will post -1.08 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 immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.

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Institutional Ownership by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

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