Adaptive Biotechnologies Corporation $ADPT Stock Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC reduced its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 34.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,441 shares of the company’s stock after selling 52,845 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Adaptive Biotechnologies were worth $2,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADPT. Nykredit A S bought a new stake in Adaptive Biotechnologies in the second quarter worth about $31,000. Allworth Financial LP bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $35,000. KBC Group NV bought a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at about $45,000. Integrated Wealth Concepts LLC bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $46,000. Finally, Assetmark Inc. grew its stake in shares of Adaptive Biotechnologies by 46.4% in the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock worth $61,000 after purchasing an additional 1,401 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 11,881 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $30.12, for a total transaction of $357,855.72. Following the completion of the sale, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at approximately $11,379,396.24. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,071,525 shares of company stock worth $27,404,692. 5.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. TD Cowen raised their target price on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Piper Sandler lifted their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a research report on Tuesday, September 22nd. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.31.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock opened at $29.94 on Thursday. The stock’s fifty day moving average is $26.72 and its 200-day moving average is $20.03. The company has a quick ratio of 3.87, a current ratio of 3.97 and a debt-to-equity ratio of 1.82. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $32.21.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The business had revenue of $83.90 million during the quarter, compared to analyst estimates of $71.57 million. During the same quarter last year, the company posted $0.06 EPS. Adaptive Biotechnologies’s revenue for the quarter was down 10.7% on a year-over-year basis. Equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.29 EPS for the current fiscal year.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.