Algert Global LLC Acquires 354,191 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Algert Global LLC boosted its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 464.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,514 shares of the company's stock after purchasing an additional 354,191 shares during the quarter. Algert Global LLC owned about 0.29% of Adaptive Biotechnologies worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. KBC Group NV bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth $50,000. GAMMA Investing LLC purchased a new position in shares of Adaptive Biotechnologies in the 4th quarter worth about $59,000. Cibc World Markets Corp bought a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $65,000. Proficio Capital Partners LLC bought a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $93,000. Finally, Amundi raised its holdings in shares of Adaptive Biotechnologies by 41.2% during the 4th quarter. Amundi now owns 15,532 shares of the company's stock valued at $93,000 after buying an additional 4,531 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Stock Down 2.6 %

Shares of NASDAQ:ADPT traded down $0.24 during midday trading on Friday, hitting $9.03. 1,151,850 shares of the stock traded hands, compared to its average volume of 1,587,371. The stock has a market capitalization of $1.37 billion, a PE ratio of -8.28 and a beta of 1.75. Adaptive Biotechnologies Co. has a one year low of $2.99 and a one year high of $10.28. The business's 50 day moving average is $7.86 and its two-hundred day moving average is $7.06.

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

Analysts Set New Price Targets

ADPT has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. The Goldman Sachs Group lifted their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Piper Sandler restated an "overweight" rating and set a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. Finally, Scotiabank lifted their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.83.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 211,160 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total value of $1,794,860.00. Following the completion of the transaction, the chief executive officer now directly owns 2,576,701 shares of the company's stock, valued at $21,901,958.50. This represents a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Harlan S. Robins sold 68,412 shares of Adaptive Biotechnologies stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total value of $502,828.20. Following the sale, the insider now directly owns 1,279,524 shares in the company, valued at approximately $9,404,501.40. The trade was a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 826,013 shares of company stock valued at $6,543,452. 6.20% of the stock is currently owned by company insiders.

Adaptive Biotechnologies Company 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.