Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC raised its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 265.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,401 shares of the company's stock after purchasing an additional 32,247 shares during the period. Squarepoint Ops LLC's holdings in Adaptive Biotechnologies were worth $266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Adaptive Biotechnologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company's stock valued at $64,236,000 after purchasing an additional 75,448 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Adaptive Biotechnologies by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company's stock worth $20,209,000 after acquiring an additional 489,555 shares during the period. Geode Capital Management LLC boosted its position in shares of Adaptive Biotechnologies by 0.9% during the 4th 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. Voya Investment Management LLC grew its holdings in shares of 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 valued at $14,560,000 after purchasing an additional 2,389,674 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Adaptive Biotechnologies by 12.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company's stock valued at $9,622,000 after purchasing an additional 183,881 shares during the period. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adaptive Biotechnologies

In related news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the transaction, the insider now directly owns 1,279,524 shares of the company's stock, valued at $9,404,501.40. The trade was a 5.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Hershberg sold 53,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now owns 69,690 shares in the company, valued at approximately $528,947.10. This trade represents a 43.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,039 shares of company stock worth $937,529. Corporate insiders own 6.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. The Goldman Sachs Group lifted their price target 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. Morgan Stanley increased their price objective 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. Finally, Piper Sandler reissued an "overweight" rating and set a $13.00 target price (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 issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.83.

Adaptive Biotechnologies Stock Performance

Shares of Adaptive Biotechnologies stock traded up $0.36 on Monday, reaching $10.45. The company had a trading volume of 1,332,613 shares, compared to its average volume of 1,560,675. The firm's 50 day moving average price is $8.51 and its two-hundred day moving average price is $7.65. Adaptive Biotechnologies Co. has a 52-week low of $2.99 and a 52-week high of $10.63. The firm has a market cap of $1.59 billion, a PE ratio of -9.59 and a beta of 1.80.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.08. The company had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The firm's quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.33) earnings per share. As a group, sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

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.