Nikko Asset Management Americas Inc. Has $40.93 Million Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Nikko Asset Management Americas Inc. lessened its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,833,137 shares of the company’s stock after selling 900,747 shares during the period. Nikko Asset Management Americas Inc. owned 4.63% of Adaptive Biotechnologies worth $40,930,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ADPT. Clearline Capital LP acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth $3,147,000. Point72 Asset Management L.P. acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth $2,537,000. Rubric Capital Management LP lifted its holdings in shares of Adaptive Biotechnologies by 2.9% during the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock worth $73,728,000 after purchasing an additional 400,000 shares during the period. Millrace Asset Group Inc. acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth $1,396,000. Finally, Cerity Partners LLC lifted its holdings in shares of Adaptive Biotechnologies by 58.7% during the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock worth $3,555,000 after purchasing an additional 256,933 shares during the period. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ADPT shares. Piper Sandler reissued an “overweight” rating and set a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Scotiabank lifted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and an average target price of $9.10.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the completion of the sale, the director now directly owns 69,690 shares of the company’s stock, valued at approximately $528,947.10. The trade was a 43.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $21,901,958.50. This represents a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 755,903 shares of company stock valued at $6,025,342. Corporate insiders own 6.20% of the company’s stock.

Adaptive Biotechnologies Trading Up 1.5 %

ADPT opened at $7.28 on Monday. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $8.95. The company has a market cap of $1.08 billion, a P/E ratio of -6.68 and a beta of 1.53. The company has a fifty day moving average price of $7.65 and a two-hundred day moving average price of $6.13.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, beating 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 period in the prior year, the company earned ($0.30) earnings per share. On average, research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

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 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.