Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT – Free Report) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,322,536 shares of the company’s stock after selling 29,779 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 3.72% of Adaptive Biotechnologies worth $46,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADPT. Vanguard Group Inc. increased its holdings in shares of Adaptive Biotechnologies by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,671,783 shares of the company’s stock valued at $83,104,000 after acquiring an additional 95,409 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Adaptive Biotechnologies by 12.2% in the 3rd quarter. BlackRock Inc. now owns 10,119,409 shares of the company’s stock valued at $72,051,000 after acquiring an additional 1,098,301 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Adaptive Biotechnologies by 10.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 5,352,315 shares of the company’s stock valued at $40,731,000 after acquiring an additional 514,124 shares during the last quarter. Bellevue Group AG increased its holdings in shares of Adaptive Biotechnologies by 59.8% in the 1st quarter. Bellevue Group AG now owns 3,145,293 shares of the company’s stock valued at $43,657,000 after acquiring an additional 1,176,862 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Adaptive Biotechnologies by 5.9% in the 3rd quarter. State Street Corp now owns 2,476,435 shares of the company’s stock valued at $17,632,000 after acquiring an additional 137,051 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

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Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $7.59 on Wednesday. Adaptive Biotechnologies Co. has a 12-month low of $5.96 and a 12-month high of $13.21. The firm has a market capitalization of $1.10 billion, a P/E ratio of -5.54 and a beta of 1.15. The business has a 50 day simple moving average of $7.11 and a 200 day simple moving average of $8.03.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.06). Adaptive Biotechnologies had a negative return on equity of 41.21% and a negative net margin of 105.87%. The business had revenue of $37.65 million for the quarter, compared to analyst estimates of $36.81 million. During the same quarter last year, the firm posted ($0.44) EPS. The company’s revenue was down 2.5% compared to the same quarter last year. Research analysts anticipate that Adaptive Biotechnologies Co. will post -1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price target on Adaptive Biotechnologies from $14.00 to $15.00 in a report on Monday, May 8th.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, CFO Tycho Peterson sold 38,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $7.16, for a total transaction of $272,080.00. Following the completion of the transaction, the chief financial officer now owns 454,891 shares in the company, valued at approximately $3,257,019.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 242,961 shares of company stock worth $1,967,763. 5.20% of the stock is owned by company insiders.

Adaptive Biotechnologies Profile

(Free Report)

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals.

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