Primecap Management Co. CA Boosts Stock Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Primecap Management Co. CA raised its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 4.3% during the 2nd quarter, Holdings Channel reports. The firm owned 219,500 shares of the company’s stock after buying an additional 9,000 shares during the quarter. Primecap Management Co. CA’s holdings in Adaptive Biotechnologies were worth $8,969,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in Adaptive Biotechnologies during the 1st quarter valued at about $28,000. Cutler Group LP purchased a new stake in Adaptive Biotechnologies during the 2nd quarter valued at about $28,000. Sowell Financial Services LLC grew its stake in Adaptive Biotechnologies by 138.3% during the 1st quarter. Sowell Financial Services LLC now owns 822 shares of the company’s stock valued at $30,000 after purchasing an additional 477 shares during the last quarter. Harbour Investments Inc. purchased a new stake in Adaptive Biotechnologies during the 1st quarter valued at about $90,000. Finally, Maverick Capital Ltd. purchased a new stake in shares of Adaptive Biotechnologies in the first quarter worth about $93,000. Institutional investors and hedge funds own 82.60% of the company’s stock.

In other Adaptive Biotechnologies news, SVP Stacy L. Taylor sold 4,167 shares of the stock in a transaction that occurred on Wednesday, June 30th. The stock was sold at an average price of $41.42, for a total transaction of $172,597.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Harlan S. Robins sold 3,895 shares of the stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $36.74, for a total value of $143,102.30. Following the transaction, the insider now directly owns 73,255 shares of the company’s stock, valued at approximately $2,691,388.70. The disclosure for this sale can be found here. Insiders have sold 87,697 shares of company stock worth $3,277,962 in the last quarter. 3.90% of the stock is currently owned by company insiders.

A number of brokerages have recently commented on ADPT. Zacks Investment Research upgraded Adaptive Biotechnologies from a “sell” rating to a “hold” rating in a research note on Monday, August 9th. The Goldman Sachs Group lowered their target price on Adaptive Biotechnologies from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, August 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $57.00.

Shares of ADPT stock opened at $39.75 on Friday. The company has a market capitalization of $5.60 billion, a P/E ratio of -32.06 and a beta of 0.27. The business’s 50 day moving average is $35.90 and its two-hundred day moving average is $38.23. Adaptive Biotechnologies Co. has a 12-month low of $29.74 and a 12-month high of $71.25.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $38.50 million for the quarter, compared to the consensus estimate of $31.12 million. Adaptive Biotechnologies had a negative return on equity of 23.32% and a negative net margin of 128.33%. Adaptive Biotechnologies’s revenue for the quarter was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.26) earnings per share. Equities research analysts anticipate that Adaptive Biotechnologies Co. will post -1.49 EPS for the current year.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corp. engages in the development of an immune medicine platform. It harnesses the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its products and services include immunoSEQ, clonoSEQ, cellular therapy, and vaccines. The company was founded by Chad Robins, Harlan Robins, and Chris Carlson in September 2009 and is headquartered in Seattle, WA.

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

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