Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,455,269 shares of the company’s stock after purchasing an additional 176,019 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned approximately 1.81% of Adaptive Biotechnologies worth $118,786,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Adaptive Biotechnologies by 26.2% during the 2nd quarter. Vanguard Group Inc. now owns 5,641,434 shares of the company’s stock valued at $272,933,000 after purchasing an additional 1,169,653 shares during the last quarter. Pier Capital LLC purchased a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $5,613,000. TD Asset Management Inc. increased its holdings in Adaptive Biotechnologies by 2.4% in the 2nd quarter. TD Asset Management Inc. now owns 46,456 shares of the company’s stock worth $2,248,000 after acquiring an additional 1,100 shares in the last quarter. Athanor Capital LP purchased a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $755,000. Finally, American International Group Inc. increased its holdings in Adaptive Biotechnologies by 39.8% in the 2nd quarter. American International Group Inc. now owns 1,946 shares of the company’s stock worth $94,000 after acquiring an additional 554 shares in the last quarter. 74.26% of the stock is owned by hedge funds and other institutional investors.
ADPT traded down $0.95 during trading on Friday, reaching $35.79. 730,064 shares of the company traded hands, compared to its average volume of 771,959. The company has a market cap of $4.86 billion, a P/E ratio of -45.30 and a beta of 0.40. The firm has a fifty day simple moving average of $39.57 and a 200 day simple moving average of $35.60. Adaptive Biotechnologies Corporation has a 12-month low of $15.19 and a 12-month high of $55.12.
Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $18.80 million. Adaptive Biotechnologies had a negative return on equity of 17.78% and a negative net margin of 107.96%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.23) earnings per share. On average, equities research analysts predict that Adaptive Biotechnologies Corporation will post -1.11 earnings per share for the current year.
In other Adaptive Biotechnologies news, CFO Chad M. Cohen sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $43.73, for a total value of $1,311,900.00. Following the completion of the sale, the chief financial officer now owns 22,250 shares of the company’s stock, valued at $972,992.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Chad M. Robins sold 16,680 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $44.41, for a total value of $740,758.80. Following the completion of the sale, the chief executive officer now directly owns 1,806,620 shares of the company’s stock, valued at approximately $80,231,994.20. The disclosure for this sale can be found here. In the last three months, insiders sold 2,392,874 shares of company stock valued at $97,041,875. Corporate insiders own 34.70% of the company’s stock.
Several equities research analysts recently issued reports on the stock. ValuEngine lowered shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Zacks Investment Research lowered shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Monday, July 20th. William Blair reaffirmed an “outperform” rating on shares of Adaptive Biotechnologies in a report on Tuesday, August 11th. Guggenheim increased their price objective on shares of Adaptive Biotechnologies from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Goldman Sachs Group started coverage on shares of Adaptive Biotechnologies in a report on Wednesday, June 3rd. They set a “buy” rating and a $60.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $51.25.
Adaptive Biotechnologies Company Profile
Adaptive Biotechnologies Corporation 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 that inform current and future clinical trials, as well as to discover new prognostic and diagnostic signals.
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