Point72 Asset Management L.P. Has $5.62 Million Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Point72 Asset Management L.P. increased its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 89.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 937,331 shares of the company's stock after purchasing an additional 441,839 shares during the quarter. Point72 Asset Management L.P. owned 0.64% of Adaptive Biotechnologies worth $5,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Adaptive Biotechnologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company's stock valued at $64,236,000 after buying an additional 75,448 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Adaptive Biotechnologies by 17.0% in 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 purchasing an additional 489,555 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Adaptive Biotechnologies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,684,506 shares of the company's stock valued at $16,098,000 after purchasing an additional 22,628 shares in the last quarter. Voya Investment Management LLC lifted its position in 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 worth $14,560,000 after acquiring an additional 2,389,674 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Adaptive Biotechnologies by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock worth $9,622,000 after acquiring an additional 183,881 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies 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 1,578,522. The firm has a market cap of $1.36 billion, a P/E ratio of -8.19 and a beta of 1.75. The business has a fifty day moving average of $8.20 and a two-hundred day moving average of $7.35. Adaptive Biotechnologies Co. has a fifty-two week low of $2.99 and a fifty-two week high of $10.28.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The company's revenue was up 25.2% on a year-over-year basis. As a group, research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ADPT shares. Morgan Stanley boosted 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. Piper Sandler reissued 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. The Goldman Sachs Group upped their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Scotiabank upped their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and an average price target of $9.83.

Insider Activity

In other news, CFO Kyle Piskel sold 10,320 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the completion of the sale, the chief financial officer now directly owns 269,010 shares of the company's stock, valued at $1,877,689.80. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the insider now directly owns 332,846 shares of the company's stock, valued at $2,326,593.54. This trade represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 358,754 shares of company stock valued at $2,584,806 over the last three months. Insiders own 6.40% of the company's stock.

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.