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

Soleus Capital Management L.P. grew its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 168.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,983,142 shares of the company's stock after acquiring an additional 1,870,393 shares during the quarter. Adaptive Biotechnologies accounts for about 1.1% of Soleus Capital Management L.P.'s holdings, making the stock its 28th largest position. Soleus Capital Management L.P. owned 2.02% of Adaptive Biotechnologies worth $17,884,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. KBC Group NV bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $50,000. Cibc World Markets Corp bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $65,000. Bridgefront Capital LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $80,000. Amundi lifted its position in shares of Adaptive Biotechnologies by 41.2% in 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 bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $93,000. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock traded up $0.09 during midday trading on Friday, hitting $8.93. 1,008,446 shares of the company were exchanged, compared to its average volume of 1,575,598. The firm has a market cap of $1.36 billion, a P/E ratio of -8.19 and a beta of 1.75. Adaptive Biotechnologies Co. has a 52 week low of $2.99 and a 52 week high of $10.28. The firm has a 50 day simple moving average of $8.20 and a 200-day simple moving average of $7.33.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) 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 firm had revenue of $52.44 million during the quarter, compared to the consensus estimate of $42.13 million. During the same quarter in the previous year, the company posted ($0.33) EPS. The business's revenue for the quarter was up 25.2% compared to the same quarter last year. Equities research analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total value of $72,033.60. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad M. Robins sold 117,351 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $819,109.98. Following the completion of the transaction, the chief executive officer now owns 2,814,350 shares of the company's stock, valued at approximately $19,644,163. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 358,754 shares of company stock worth $2,584,806. 6.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of research reports. Morgan Stanley raised their price objective 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. Piper Sandler restated an "overweight" rating and set a $13.00 target price (up previously from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their target price on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Scotiabank raised 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.