Dark Forest Capital Management LP Purchases New Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

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

Several other large investors have also recently bought and sold shares of the stock. Impact Partnership Wealth LLC boosted its stake in shares of Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company's stock valued at $114,000 after buying an additional 1,539 shares during the period. Russell Investments Group Ltd. raised its holdings in Adaptive Biotechnologies by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock valued at $486,000 after acquiring an additional 2,163 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Adaptive Biotechnologies by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company's stock valued at $188,000 after acquiring an additional 2,928 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Adaptive Biotechnologies by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock worth $414,000 after purchasing an additional 3,650 shares in the last quarter. Finally, Amundi increased its position in shares of Adaptive Biotechnologies by 41.2% in the fourth quarter. Amundi now owns 15,532 shares of the company's stock worth $93,000 after purchasing an additional 4,531 shares during the period. 99.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Adaptive Biotechnologies Trading Up 33.7 %

NASDAQ ADPT traded up $2.48 during trading on Friday, hitting $9.84. 15,566,433 shares of the company's stock were exchanged, compared to its average volume of 1,546,287. The company has a market cap of $1.49 billion, a PE ratio of -9.03 and a beta of 1.75. The stock's 50 day moving average price is $7.76 and its two-hundred day moving average price is $6.91. Adaptive Biotechnologies Co. has a fifty-two week low of $2.99 and a fifty-two week high of $10.28.

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

Insider Buying and Selling

In related news, insider Francis Lo sold 20,875 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total value of $145,916.25. Following the transaction, the insider now owns 332,846 shares in the company, valued at $2,326,593.54. The trade was a 5.90 % 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, Director Peter M. Neupert sold 10,000 shares of Adaptive Biotechnologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.05, for a total value of $70,500.00. Following the completion of the transaction, the director now directly owns 224,690 shares of the company's stock, valued at approximately $1,584,064.50. This trade represents a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 757,601 shares of company stock worth $6,040,624 in the last 90 days. Insiders own 6.20% of the company's stock.

About Adaptive Biotechnologies

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.