Caxton Associates LP Purchases New Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Caxton Associates LP acquired a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 123,287 shares of the company's stock, valued at approximately $739,000. Caxton Associates LP owned 0.08% of Adaptive Biotechnologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ADPT. Impact Partnership Wealth LLC boosted its stake in Adaptive Biotechnologies by 8.8% during 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. boosted its stake in Adaptive Biotechnologies by 2.7% during the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock valued at $486,000 after buying an additional 2,163 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Adaptive Biotechnologies by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company's stock valued at $188,000 after buying an additional 2,928 shares during the period. MetLife Investment Management LLC boosted its stake in Adaptive Biotechnologies by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock valued at $414,000 after buying an additional 3,650 shares during the period. Finally, Amundi boosted its stake in Adaptive Biotechnologies by 41.2% during the fourth quarter. Amundi now owns 15,532 shares of the company's stock valued at $93,000 after buying 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 issued reports on ADPT. Scotiabank lifted their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 13th. The Goldman Sachs Group lifted their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley raised their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Piper Sandler restated an "overweight" rating and set a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and a consensus target price of $9.83.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT traded up $0.48 on Monday, reaching $9.51. 311,446 shares of the company's stock traded hands, compared to its average volume of 1,582,493. Adaptive Biotechnologies Co. has a 12 month low of $2.99 and a 12 month high of $10.28. The stock has a 50-day simple moving average of $7.86 and a 200 day simple moving average of $7.07. The stock has a market cap of $1.44 billion, a PE ratio of -8.70 and a beta of 1.75.

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

Insider Transactions at Adaptive Biotechnologies

In other news, insider Francis Lo sold 20,875 shares of Adaptive Biotechnologies stock in a transaction dated Wednesday, March 5th. The stock was 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 approximately $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 accessible through this hyperlink. Also, CEO Chad M. Robins sold 158,921 shares of Adaptive Biotechnologies stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $8.46, for a total value of $1,344,471.66. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $21,798,890.46. This represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 826,013 shares of company stock worth $6,543,452. Company 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.