Millennium Management LLC Decreases Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Millennium Management LLC lessened its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 33.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,292,634 shares of the company's stock after selling 3,107,939 shares during the period. Millennium Management LLC owned 4.26% of Adaptive Biotechnologies worth $37,724,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADPT. SG Americas Securities LLC grew its holdings in Adaptive Biotechnologies by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 45,944 shares of the company's stock valued at $275,000 after purchasing an additional 4,799 shares during the period. Impact Partnership Wealth LLC boosted 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 worth $114,000 after acquiring an additional 1,539 shares during the period. KBC Group NV bought a new position in shares of Adaptive Biotechnologies in the fourth quarter worth about $50,000. China Universal Asset Management Co. Ltd. boosted 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 worth $188,000 after acquiring an additional 2,928 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Adaptive Biotechnologies by 3.0% in the fourth quarter. Rhumbline Advisers now owns 181,202 shares of the company's stock worth $1,086,000 after acquiring an additional 5,361 shares during the period. Institutional investors own 99.17% of the company's stock.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 10,320 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the sale, the chief financial officer now directly owns 269,010 shares in the company, valued at $1,877,689.80. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michelle Renee Griffin sold 15,664 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $7.94, for a total value of $124,372.16. Following the sale, the director now owns 51,685 shares in the company, valued at approximately $410,378.90. This trade represents a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 358,754 shares of company stock valued at $2,584,806. Insiders own 6.40% of the company's stock.

Adaptive Biotechnologies Stock Up 1.0%

Adaptive Biotechnologies stock traded up $0.09 during midday trading on Friday, reaching $8.93. 1,008,446 shares of the stock traded hands, compared to its average volume of 1,575,598. The stock's fifty day moving average is $8.20 and its 200-day moving average is $7.33. Adaptive Biotechnologies Co. has a 12 month low of $2.99 and a 12 month high of $10.28. The stock has a market cap of $1.36 billion, a P/E ratio of -8.19 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $42.13 million. During the same period in the prior year, the company earned ($0.33) earnings per share. The firm's revenue was up 25.2% on a year-over-year basis. On average, equities analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ADPT shares. 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. 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. Morgan Stanley upped their price objective on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and an average target price of $9.83.

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.