Calamos Advisors LLC Takes $1.05 Million Position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

Calamos Advisors LLC acquired a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 140,889 shares of the company's stock, valued at approximately $1,047,000. Calamos Advisors LLC owned 0.09% of Adaptive Biotechnologies at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADPT. Cibc World Markets Corp purchased a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $65,000. Bridgefront Capital LLC purchased a new stake in Adaptive Biotechnologies during the fourth quarter worth $80,000. Wealth Enhancement Advisory Services LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $87,000. Amundi increased its holdings in shares of Adaptive Biotechnologies by 41.2% in the 4th quarter. Amundi now owns 15,532 shares of the company's stock valued at $93,000 after acquiring an additional 4,531 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $93,000. 99.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADPT shares. Craig Hallum assumed coverage on Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price on the stock. Piper Sandler reiterated 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. Morgan Stanley lifted their price target 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. Finally, 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 report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Adaptive Biotechnologies presently has an average rating of "Moderate Buy" and an average target price of $10.57.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock traded down $0.06 during mid-day trading on Monday, reaching $11.74. 1,894,528 shares of the company traded hands, compared to its average volume of 2,051,198. Adaptive Biotechnologies Corporation has a fifty-two week low of $3.47 and a fifty-two week high of $12.43. The firm's fifty day moving average is $9.84 and its two-hundred day moving average is $8.33. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -12.23 and a beta of 1.83.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 74.84% and a negative return on equity of 62.79%. Adaptive Biotechnologies's quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the company posted ($0.33) EPS. As a group, equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Insider Activity

In related news, insider Harlan S. Robins sold 68,412 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total value of $502,828.20. Following the completion of the transaction, the insider directly owned 1,279,524 shares in the company, valued at approximately $9,404,501.40. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.40% of the stock is owned by corporate insiders.

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.