Soleus Capital Management L.P. Acquires 1,870,393 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Soleus Capital Management L.P. lifted its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 168.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,983,142 shares of the company's stock after buying an additional 1,870,393 shares during the quarter. Adaptive Biotechnologies comprises 1.1% of Soleus Capital Management L.P.'s investment portfolio, making the stock its 28th biggest position. Soleus Capital Management L.P. owned about 2.02% of Adaptive Biotechnologies worth $17,884,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $50,000. Cibc World Markets Corp bought a new position in Adaptive Biotechnologies in the 4th quarter worth about $65,000. Bridgefront Capital LLC purchased a new position in Adaptive Biotechnologies during the 4th quarter valued at 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 valued at $93,000 after buying an additional 4,531 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at about $93,000. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Trading Down 2.8%

Shares of Adaptive Biotechnologies stock traded down $0.25 on Thursday, hitting $8.84. 866,506 shares of the company traded hands, compared to its average volume of 1,575,630. Adaptive Biotechnologies Co. has a 12-month low of $2.99 and a 12-month high of $10.28. The company has a market cap of $1.34 billion, a P/E ratio of -8.11 and a beta of 1.75. The firm's 50-day simple moving average is $8.17 and its 200 day simple moving average is $7.31.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.08. The company had revenue of $52.44 million during 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%. Adaptive Biotechnologies's quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) EPS. Analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. 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 note on Tuesday, May 6th. Scotiabank boosted their target price 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. Finally, The Goldman Sachs Group upped their target price on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One investment 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.83.

Insider Buying and Selling

In other news, CFO Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total value of $72,033.60. Following the transaction, the chief financial officer now owns 269,010 shares in the company, valued at approximately $1,877,689.80. The trade was a 3.69% 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, Director Michelle Renee Griffin sold 15,664 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $7.94, for a total value of $124,372.16. Following the completion of the sale, the director now owns 51,685 shares of the company's stock, valued at $410,378.90. The trade was a 23.26% 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 90 days. 6.40% of the stock is owned by company insiders.

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.