Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 89.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 937,331 shares of the company's stock after acquiring an additional 441,839 shares during the period. Point72 Asset Management L.P. owned approximately 0.64% of Adaptive Biotechnologies worth $5,619,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Impact Partnership Wealth LLC raised its stake in shares of Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company's stock valued at $114,000 after acquiring an additional 1,539 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Adaptive Biotechnologies by 2.7% in the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock valued at $486,000 after acquiring an additional 2,163 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Adaptive Biotechnologies by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company's stock valued at $395,000 after acquiring an additional 2,625 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of 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 valued at $188,000 after acquiring an additional 2,928 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Adaptive Biotechnologies by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 68,976 shares of the company's stock valued at $414,000 after acquiring an additional 3,650 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $9.20 on Tuesday. The firm has a market capitalization of $1.40 billion, a PE ratio of -8.44 and a beta of 1.75. The business's fifty day moving average price is $8.06 and its 200 day moving average price is $7.26. Adaptive Biotechnologies Co. has a 12 month low of $2.99 and a 12 month high of $10.28.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.08. The firm had revenue of $52.44 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.33) earnings per share. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Chad M. Robins sold 99,107 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.44, for a total transaction of $836,463.08. Following the transaction, the chief executive officer now owns 2,576,701 shares of the company's stock, valued at $21,747,356.44. This trade represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Francis Lo sold 20,875 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total value of $145,916.25. Following the transaction, the insider now directly owns 332,846 shares in the company, valued at approximately $2,326,593.54. This represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 457,861 shares of company stock valued at $3,421,269. 6.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADPT has been the topic of several analyst reports. The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and issued a $13.00 price objective (up from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. Morgan Stanley increased their target price on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Scotiabank increased their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $9.83.

Adaptive Biotechnologies 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.

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