Squarepoint Ops LLC Purchases 32,247 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Squarepoint Ops LLC boosted 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 filing with the Securities and Exchange Commission (SEC). The firm owned 44,401 shares of the company's stock after acquiring an additional 32,247 shares during the quarter. Squarepoint Ops LLC's holdings in Adaptive Biotechnologies were worth $266,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $50,000. Cibc World Markets Corp acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $65,000. Bridgefront Capital LLC acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $80,000. Proficio Capital Partners LLC acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $93,000. Finally, Amundi grew 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 worth $93,000 after acquiring an additional 4,531 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction dated 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 sale, the insider now 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 72,039 shares of company stock valued at $535,259. Insiders own 6.40% of the company's stock.

Adaptive Biotechnologies Price Performance

ADPT traded up $0.17 during trading on Wednesday, reaching $10.63. 1,381,759 shares of the stock traded hands, compared to its average volume of 1,561,495. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -9.75 and a beta of 1.80. Adaptive Biotechnologies Co. has a fifty-two week low of $2.99 and a fifty-two week high of $10.87. The stock's 50-day simple moving average is $8.69 and its two-hundred day simple moving average is $7.73.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.08. The firm had revenue of $52.44 million during the quarter, compared to analysts' expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The business's revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) earnings per share. Research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley lifted their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Piper Sandler reiterated an "overweight" rating and set a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Finally, Scotiabank lifted their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.