Two Sigma Advisers LP Buys 41,200 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Two Sigma Advisers LP lifted its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 396.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,600 shares of the company's stock after purchasing an additional 41,200 shares during the period. Two Sigma Advisers LP's holdings in Adaptive Biotechnologies were worth $309,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth $50,000. Cibc World Markets Corp bought a new position in Adaptive Biotechnologies in the 4th quarter worth $65,000. Bridgefront Capital LLC purchased a new stake in Adaptive Biotechnologies in the 4th quarter worth $80,000. Amundi raised its holdings in Adaptive Biotechnologies by 41.2% during the fourth 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 stake in Adaptive Biotechnologies during the fourth quarter valued at about $93,000. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT traded up $0.22 during midday trading on Friday, reaching $10.09. 1,064,851 shares of the stock traded hands, compared to its average volume of 1,561,591. The company's 50 day moving average is $8.51 and its 200 day moving average is $7.63. Adaptive Biotechnologies Co. has a one year low of $2.99 and a one year high of $10.37. The stock has a market capitalization of $1.53 billion, a PE ratio of -9.26 and a beta of 1.80.

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 (EPS) for the quarter, topping 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 the consensus estimate of $42.13 million. During the same period last year, the company earned ($0.33) earnings per share. Adaptive Biotechnologies's revenue was up 25.2% on a year-over-year basis. As a group, equities analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADPT shares. 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. Scotiabank upped their price target 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 lifted their price objective 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. Finally, Morgan Stanley boosted their target price 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.83.

Insider Buying and Selling

In related news, insider Harlan S. Robins sold 68,412 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were 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 directly owns 1,279,524 shares of the company's stock, valued at $9,404,501.40. This represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter M. Neupert sold 10,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the sale, the director now owns 224,690 shares of the company's stock, valued at approximately $1,584,064.50. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,039 shares of company stock valued at $1,008,029. Company insiders own 6.40% of the company's stock.

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.