Hedeker Wealth LLC Buys Shares of 121,667 Adaptive Biotechnologies Corporation $ADPT

Hedeker Wealth LLC bought a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 121,667 shares of the company’s stock, valued at approximately $1,417,000.

Several other large investors have also made changes to their positions in ADPT. Blair William & Co. IL acquired a new position in Adaptive Biotechnologies during the first quarter valued at approximately $84,000. Candriam S.C.A. bought a new position in shares of Adaptive Biotechnologies in the 1st quarter valued at $90,000. Caxton Associates LLP acquired a new position in shares of Adaptive Biotechnologies during the 1st quarter worth $93,000. Teza Capital Management LLC bought a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth $118,000. Finally, CWM LLC boosted its stake in Adaptive Biotechnologies by 88.8% in the first quarter. CWM LLC now owns 18,947 shares of the company’s stock valued at $141,000 after buying an additional 8,913 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ADPT. Piper Sandler boosted their target price on Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of Adaptive Biotechnologies from $11.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, BTIG Research upped their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.56.

Adaptive Biotechnologies Stock Down 0.3%

Shares of NASDAQ:ADPT opened at $14.10 on Friday. The firm has a market cap of $2.15 billion, a P/E ratio of -17.19 and a beta of 2.09. The business has a fifty day simple moving average of $15.01 and a 200 day simple moving average of $12.31. Adaptive Biotechnologies Corporation has a 12-month low of $4.27 and a 12-month high of $17.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The firm’s quarterly revenue was up 102.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.22) earnings per share. As a group, equities research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Chad M. Robins sold 86,161 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $14.73, for a total value of $1,269,151.53. Following the transaction, the chief executive officer owned 2,873,088 shares in the company, valued at $42,320,586.24. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Harlan S. Robins sold 10,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $14.82, for a total value of $148,200.00. Following the sale, the insider owned 1,269,524 shares of the company’s stock, valued at approximately $18,814,345.68. The trade was a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,265 shares of company stock valued at $1,463,380 in the last three months. 6.40% of the stock is owned by insiders.

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.