Cibc World Markets Corp Purchases Shares of 10,839 Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Cibc World Markets Corp acquired a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,839 shares of the company’s stock, valued at approximately $65,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Impact Partnership Wealth LLC boosted its holdings in Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock valued at $114,000 after acquiring an additional 1,539 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Adaptive Biotechnologies by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock worth $188,000 after purchasing an additional 2,928 shares during the period. Amundi raised its holdings in shares of Adaptive Biotechnologies by 41.2% in the 4th quarter. Amundi now owns 15,532 shares of the company’s stock worth $93,000 after purchasing an additional 4,531 shares during the period. SG Americas Securities LLC lifted its stake in shares of Adaptive Biotechnologies by 11.7% in the 4th quarter. SG Americas Securities LLC now owns 45,944 shares of the company’s stock valued at $275,000 after purchasing an additional 4,799 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Adaptive Biotechnologies by 3.0% during the 4th quarter. Rhumbline Advisers now owns 181,202 shares of the company’s stock worth $1,086,000 after purchasing an additional 5,361 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Down 0.2 %

ADPT opened at $8.22 on Friday. The firm’s 50 day moving average is $7.88 and its 200-day moving average is $6.33. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $9.01. The firm has a market capitalization of $1.22 billion, a P/E ratio of -7.54 and a beta of 1.53.

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

Analysts Set New Price Targets

Several research analysts recently commented on ADPT shares. Piper Sandler restated an “overweight” rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. BTIG Research increased their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Scotiabank lifted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group upgraded Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $8.00 to $9.00 in a report on Friday, March 21st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of “Buy” and a consensus target price of $9.40.

Insider Transactions at Adaptive Biotechnologies

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

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.