Graham Capital Management L.P. Invests $245,000 in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Graham Capital Management L.P. acquired a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,914 shares of the company's stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth about $50,000. Cibc World Markets Corp acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth about $65,000. Bridgefront Capital LLC acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth about $80,000. Amundi grew its holdings in Adaptive Biotechnologies by 41.2% during the 4th quarter. Amundi now owns 15,532 shares of the company's stock worth $93,000 after acquiring an additional 4,531 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth about $93,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 117,351 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $819,109.98. Following the transaction, the chief executive officer now owns 2,814,350 shares of the company's stock, valued at approximately $19,644,163. This trade represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the transaction, the chief financial officer now directly owns 269,010 shares in the company, valued at approximately $1,877,689.80. This represents a 3.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 358,754 shares of company stock valued at $2,584,806. 6.40% of the stock is owned by corporate insiders.

Adaptive Biotechnologies Trading Up 1.0%

NASDAQ ADPT traded up $0.09 during trading hours on Friday, hitting $8.93. The company's stock had a trading volume of 1,008,446 shares, compared to its average volume of 1,578,522. Adaptive Biotechnologies Co. has a 52 week low of $2.99 and a 52 week high of $10.28. The company has a market capitalization of $1.36 billion, a PE ratio of -8.19 and a beta of 1.75. The company's 50-day simple moving average is $8.20 and its two-hundred day simple moving average is $7.34.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on ADPT. The Goldman Sachs Group increased their price target on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley increased their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Scotiabank increased 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. Finally, Piper Sandler reissued an "overweight" rating and set a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $9.83.

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.