This is similar to ADRP and matches GNU objdump:
GNU objdump:
0000000000200100 <_start>: 200100: adr x0, 201000 <_start+0xf00>
llvm-objdump (before patch):
0000000000200100 <_start>: 200100: adr x0, #3840
llvm-objdump (after patch):
0000000000200100 <_start>: 200100: adr x0, 0x201000 <_start+0xf00>
Not that it matters for testing purposes, but did you mean to point that at 0x201000? Your other new adr matches the adrp that was there already.