Graham Capital Management L.P. Acquires New Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

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

A number of other institutional investors have also added to or reduced their stakes in the stock. Impact Partnership Wealth LLC boosted its stake in Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company's stock worth $114,000 after buying an additional 1,539 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Adaptive Biotechnologies by 2.7% in the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock worth $486,000 after buying an additional 2,163 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Adaptive Biotechnologies by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company's stock worth $188,000 after buying an additional 2,928 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Adaptive Biotechnologies by 5.6% in the fourth 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 in the last quarter. Finally, Amundi grew its position 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 last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT traded up $0.09 during mid-day trading on Friday, hitting $8.93. 1,008,446 shares of the stock traded hands, compared to its average volume of 1,575,598. Adaptive Biotechnologies Co. has a 52 week low of $2.99 and a 52 week high of $10.28. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -8.19 and a beta of 1.75. The stock has a fifty day moving average price of $8.20 and a 200-day moving average price of $7.33.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released 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 return on equity of 64.65% and a negative net margin of 89.12%. The company had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. During the same period in the previous year, the company posted ($0.33) earnings per share. The firm's revenue was up 25.2% on a year-over-year basis. As a group, sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In related news, Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. The trade was a 43.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter M. Neupert sold 10,000 shares of the business's stock in a transaction on 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 sale, the director now directly owns 224,690 shares in the company, valued at $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 358,754 shares of company stock worth $2,584,806 over the last ninety days. 6.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on ADPT. Scotiabank raised their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price target on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley raised their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock 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 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $9.83.

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.