Voloridge Investment Management LLC Makes New $174,000 Investment in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Voloridge Investment Management LLC acquired a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,093 shares of the company's stock, valued at approximately $174,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $50,000. Cibc World Markets Corp bought a new position in shares of Adaptive Biotechnologies during the fourth quarter worth about $65,000. Bridgefront Capital LLC acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at approximately $80,000. Amundi grew its position in Adaptive Biotechnologies by 41.2% in the 4th quarter. Amundi now owns 15,532 shares of the company's stock valued at $93,000 after buying an additional 4,531 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Adaptive Biotechnologies in the fourth quarter worth approximately $93,000. Institutional investors and hedge funds own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Performance

Shares of ADPT traded up $0.04 during trading hours on Wednesday, reaching $9.98. The stock had a trading volume of 1,402,472 shares, compared to its average volume of 1,566,679. The stock has a market capitalization of $1.52 billion, a PE ratio of -9.16 and a beta of 1.75. The company's 50-day moving average is $8.41 and its two-hundred day moving average is $7.53. Adaptive Biotechnologies Co. has a 12 month low of $2.99 and a 12 month high of $10.28.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released 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. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The company had revenue of $52.44 million for the quarter, compared to the consensus estimate of $42.13 million. During the same quarter in the previous year, the company earned ($0.33) EPS. Adaptive Biotechnologies's quarterly revenue was up 25.2% compared to the same quarter last year. Equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on ADPT. The Goldman Sachs Group raised their target price on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. Morgan Stanley upped 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 note on Monday, May 5th. Finally, Piper Sandler restated an "overweight" rating and set a $13.00 price objective (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $9.83.

Insiders Place Their Bets

In other news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $9,404,501.40. The trade was a 5.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michelle Renee Griffin sold 15,664 shares of Adaptive Biotechnologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $7.94, for a total transaction of $124,372.16. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 150,703 shares of company stock worth $1,132,401 over the last 90 days. Corporate insiders own 6.40% of the company's stock.

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.