Alpha Wealth Funds LLC Acquires New Shares in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Alpha Wealth Funds LLC acquired a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 40,000 shares of the company's stock, valued at approximately $297,000.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Adaptive Biotechnologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company's stock worth $64,236,000 after purchasing an additional 75,448 shares during the last quarter. Massachusetts Financial Services Co. MA grew 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 buying an additional 489,555 shares during the period. Soleus Capital Management L.P. increased its holdings in shares of Adaptive Biotechnologies by 168.1% during the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock worth $17,884,000 after buying an additional 1,870,393 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Adaptive Biotechnologies by 0.9% in the fourth 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 last quarter. Finally, Voya Investment Management LLC grew its position in Adaptive Biotechnologies by 6,121.7% in the fourth 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 during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 53,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the completion of the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. The trade was a 43.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter M. Neupert sold 10,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $7.05, for a total value of $70,500.00. Following the completion of the transaction, the director now directly owns 224,690 shares in the company, valued at $1,584,064.50. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,039 shares of company stock valued at $1,008,029. 6.40% of the stock is owned by insiders.

Adaptive Biotechnologies Trading Down 1.1%

Shares of Adaptive Biotechnologies stock traded down $0.11 during trading on Thursday, reaching $9.87. The company's stock had a trading volume of 1,014,072 shares, compared to its average volume of 1,564,479. The firm has a market cap of $1.50 billion, a PE ratio of -9.05 and a beta of 1.75. The company has a 50-day moving average price of $8.41 and a two-hundred day moving average price of $7.53. 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 released its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping 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 company had revenue of $52.44 million for the quarter, compared to analysts' expectations of $42.13 million. During the same quarter in the previous year, the firm posted ($0.33) EPS. The firm's quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADPT has been the subject of a number of recent analyst reports. Scotiabank raised their price objective 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. The Goldman Sachs Group increased their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. Finally, Morgan Stanley upped their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus 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.