Balyasny Asset Management L.P. Buys Shares of 53,170 Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Balyasny Asset Management L.P. acquired a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 53,170 shares of the company's stock, valued at approximately $319,000.

A number of other institutional investors have also modified their holdings of ADPT. Vanguard Group Inc. grew its position in shares of Adaptive Biotechnologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company's stock valued at $64,236,000 after acquiring an additional 75,448 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Adaptive Biotechnologies by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company's stock valued at $20,209,000 after acquiring an additional 489,555 shares during the period. Geode Capital Management LLC grew its position in shares of Adaptive Biotechnologies by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,684,506 shares of the company's stock valued at $16,098,000 after acquiring an additional 22,628 shares during the period. Voya Investment Management LLC grew its position in shares of Adaptive Biotechnologies by 6,121.7% during the 4th quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock valued at $14,560,000 after acquiring an additional 2,389,674 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Adaptive Biotechnologies by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock valued at $9,622,000 after acquiring an additional 183,881 shares during the period. Hedge funds and other institutional investors own 99.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ADPT shares. Scotiabank raised their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 13th. Morgan Stanley raised their target price 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. The Goldman Sachs Group lifted their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $13.00 price objective (up from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and an average price target of $9.83.

Adaptive Biotechnologies Price Performance

ADPT stock traded up $0.09 during trading on Friday, hitting $8.93. The stock had a trading volume of 1,008,446 shares, compared to its average volume of 1,575,598. Adaptive Biotechnologies Co. has a twelve month low of $2.99 and a twelve month high of $10.28. The stock has a market capitalization of $1.36 billion, a P/E ratio of -8.19 and a beta of 1.75. The company's 50-day moving average price is $8.20 and its two-hundred day moving average price is $7.33.

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, topping the consensus estimate of ($0.28) by $0.08. The business had revenue of $52.44 million for the quarter, compared to analysts' expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The business's revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) EPS. As a group, sell-side analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In other news, Director Peter M. Neupert sold 10,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the sale, the director now owns 224,690 shares of the company's stock, valued at approximately $1,584,064.50. The trade was a 4.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $72,033.60. Following the sale, the chief financial officer now directly owns 269,010 shares in the company, valued at approximately $1,877,689.80. The trade was a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 358,754 shares of company stock worth $2,584,806 in the last ninety days. Insiders own 6.40% of the company's stock.

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.