GAMMA Investing LLC Increases Stock Position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

GAMMA Investing LLC grew its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 914.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,510 shares of the company's stock after purchasing an additional 89,700 shares during the quarter. GAMMA Investing LLC owned approximately 0.07% of Adaptive Biotechnologies worth $739,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cibc World Markets Corp bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at $65,000. Bridgefront Capital LLC acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $80,000. Amundi lifted its position in shares of Adaptive Biotechnologies by 41.2% during 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. Proficio Capital Partners LLC acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $93,000. Finally, Walleye Capital LLC acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $94,000. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Stock Down 0.9%

ADPT traded down $0.09 during trading on Friday, hitting $10.38. 1,770,276 shares of the company's stock were exchanged, compared to its average volume of 1,569,627. The business's 50 day moving average is $9.03 and its two-hundred day moving average is $7.96. Adaptive Biotechnologies Corporation has a fifty-two week low of $3.22 and a fifty-two week high of $10.87. The stock has a market cap of $1.58 billion, a P/E ratio of -10.81 and a beta of 1.80.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 74.84% and a negative return on equity of 62.79%. The firm had revenue of $52.44 million for the quarter, compared to the consensus estimate of $42.13 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. The business's revenue was up 25.2% on a year-over-year basis. On average, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total transaction of $502,828.20. Following the transaction, the insider now owns 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 72,039 shares of company stock worth $535,259. Insiders own 6.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Piper Sandler reiterated 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. Craig Hallum assumed coverage on shares of Adaptive Biotechnologies in a research report on Wednesday. They set a "buy" rating and a $15.00 target price on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.57.

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.