Dark Forest Capital Management LP Buys Shares of 51,694 Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Dark Forest Capital Management LP purchased a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 51,694 shares of the company's stock, valued at approximately $310,000.

Several other institutional investors have also bought and sold shares of ADPT. Hsbc Holdings PLC raised its stake in shares of Adaptive Biotechnologies by 30.9% during the fourth quarter. Hsbc Holdings PLC now owns 47,276 shares of the company's stock valued at $289,000 after acquiring an additional 11,165 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Adaptive Biotechnologies by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock worth $414,000 after buying an additional 3,650 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Adaptive Biotechnologies by 12.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock valued at $9,622,000 after acquiring an additional 183,881 shares during the last quarter. First Trust Advisors LP acquired a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $99,000. Finally, Canada Pension Plan Investment Board grew its holdings in Adaptive Biotechnologies by 33.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 29,600 shares of the company's stock worth $177,000 after purchasing an additional 7,500 shares during the last quarter. Institutional investors own 99.17% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank boosted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 13th. The Goldman Sachs Group upped their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $9.60.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock traded up $2.48 on Friday, reaching $9.84. 15,566,433 shares of the company were exchanged, compared to its average volume of 1,542,752. The business has a 50-day moving average price of $7.76 and a 200 day moving average price of $6.88. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -9.03 and a beta of 1.73. Adaptive Biotechnologies Co. has a 1 year low of $2.74 and a 1 year high of $10.25.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.08. The company had revenue of $52.44 million during the quarter, compared to analysts' expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The firm's quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.33) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, CFO Kyle Piskel sold 10,320 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $72,033.60. Following the completion of the sale, the chief financial officer now owns 269,010 shares in the company, valued at $1,877,689.80. This represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad M. Robins sold 158,921 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the sale, the chief executive officer now owns 2,576,701 shares of the company's stock, valued at $21,798,890.46. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 757,601 shares of company stock valued at $6,040,624 in the last 90 days. Company insiders own 6.20% of the company's stock.

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.