New York State Common Retirement Fund Sells 5,500 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

New York State Common Retirement Fund reduced its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 221,306 shares of the company’s stock after selling 5,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.16% of Adaptive Biotechnologies worth $10,762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. California Public Employees Retirement System lifted its stake in Adaptive Biotechnologies by 9.9% during the third quarter. California Public Employees Retirement System now owns 159,200 shares of the company’s stock worth $7,742,000 after purchasing an additional 14,400 shares during the period. Creative Planning lifted its position in shares of Adaptive Biotechnologies by 2.1% during the 3rd quarter. Creative Planning now owns 32,107 shares of the company’s stock worth $1,561,000 after buying an additional 657 shares during the period. First Trust Advisors LP boosted its stake in Adaptive Biotechnologies by 878.2% in the 3rd quarter. First Trust Advisors LP now owns 549,722 shares of the company’s stock valued at $26,733,000 after buying an additional 493,526 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Adaptive Biotechnologies by 2.6% in the third quarter. Commonwealth Equity Services LLC now owns 43,275 shares of the company’s stock valued at $2,104,000 after acquiring an additional 1,116 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Adaptive Biotechnologies by 17.8% during the third quarter. Wells Fargo & Company MN now owns 1,102,973 shares of the company’s stock worth $53,638,000 after acquiring an additional 166,746 shares in the last quarter. Hedge funds and other institutional investors own 73.67% of the company’s stock.

Shares of NASDAQ ADPT opened at $46.40 on Friday. Adaptive Biotechnologies Co. has a 1 year low of $15.19 and a 1 year high of $54.20. The firm’s 50-day moving average is $49.50 and its 200-day moving average is $43.40. The firm has a market capitalization of $6.35 billion, a PE ratio of -48.84 and a beta of 0.27.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Sunday, November 15th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The firm had revenue of $26.30 million for the quarter, compared to analysts’ expectations of $23.58 million. Adaptive Biotechnologies had a negative net margin of 132.32% and a negative return on equity of 20.15%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. As a group, equities research analysts expect that Adaptive Biotechnologies Co. will post -1.08 EPS for the current year.

In other news, CEO Chad M. Robins sold 16,680 shares of the company’s stock in a transaction dated Thursday, November 19th. The stock was sold at an average price of $46.57, for a total value of $776,787.60. Following the completion of the sale, the chief executive officer now directly owns 1,794,860 shares of the company’s stock, valued at approximately $83,586,630.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Chad M. Cohen sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $36.17, for a total transaction of $723,400.00. Following the completion of the sale, the chief financial officer now owns 21,000 shares in the company, valued at $759,570. The disclosure for this sale can be found here. Insiders sold a total of 3,126,203 shares of company stock worth $153,872,302 over the last 90 days. 34.70% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, November 11th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $60.00 price objective (up previously from $50.00) on shares of Adaptive Biotechnologies in a report on Wednesday, November 11th. William Blair reissued an “outperform” rating on shares of Adaptive Biotechnologies in a report on Tuesday, August 11th. Finally, BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, November 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.67.

Adaptive Biotechnologies Profile

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 research questions, as well as to discover new prognostic and diagnostic signals.

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

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