Pinnacle Wealth Planning Services Inc. Has $248,000 Position in Adaptive Biotechnologies Corporation $ADPT

Pinnacle Wealth Planning Services Inc. grew its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 48.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,288 shares of the company’s stock after buying an additional 6,965 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Adaptive Biotechnologies were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Verdence Capital Advisors LLC boosted its holdings in Adaptive Biotechnologies by 6.8% in the second quarter. Verdence Capital Advisors LLC now owns 22,315 shares of the company’s stock valued at $260,000 after acquiring an additional 1,426 shares during the last quarter. Fox Run Management L.L.C. lifted its position in shares of Adaptive Biotechnologies by 8.2% in the 1st quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company’s stock worth $160,000 after purchasing an additional 1,631 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Adaptive Biotechnologies by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,038 shares of the company’s stock valued at $373,000 after purchasing an additional 2,880 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Adaptive Biotechnologies by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock worth $511,000 after buying an additional 2,914 shares during the period. Finally, ProShare Advisors LLC raised its stake in Adaptive Biotechnologies by 14.6% during the second quarter. ProShare Advisors LLC now owns 36,319 shares of the company’s stock worth $423,000 after buying an additional 4,617 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $15.15 on Thursday. Adaptive Biotechnologies Corporation has a one year low of $4.27 and a one year high of $17.89. The company has a market cap of $2.31 billion, a PE ratio of -18.48 and a beta of 2.09. The stock has a 50-day moving average of $15.11 and a 200-day moving average of $12.44.

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

Insiders Place Their Bets

In related news, CEO Chad M. Robins sold 86,161 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $14.73, for a total value of $1,269,151.53. Following the transaction, the chief executive officer directly owned 2,873,088 shares in the company, valued at $42,320,586.24. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harlan S. Robins sold 10,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $14.82, for a total transaction of $148,200.00. Following the sale, the insider owned 1,269,524 shares of the company’s stock, valued at $18,814,345.68. This trade represents a 0.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 99,503 shares of company stock worth $1,466,724. 6.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADPT. Piper Sandler upped their price target on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. BTIG Research boosted their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. TD Cowen raised their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lifted their target price on Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and an average price target of $16.56.

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.