Adaptive Biotechnologies Co. (NASDAQ:ADPT) Short Interest Update

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 9,100,000 shares, a growth of 7.6% from the March 15th total of 8,460,000 shares. Currently, 6.6% of the company's stock are sold short. Based on an average daily trading volume, of 1,490,000 shares, the short-interest ratio is presently 6.1 days.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT traded down $0.10 during mid-day trading on Monday, hitting $2.91. 3,152,255 shares of the company's stock traded hands, compared to its average volume of 1,567,309. The company has a market capitalization of $422.22 million, a P/E ratio of -1.87 and a beta of 1.25. The company has a fifty day moving average of $3.46 and a 200 day moving average of $4.12. Adaptive Biotechnologies has a twelve month low of $2.53 and a twelve month high of $9.08.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.02. The firm had revenue of $45.78 million during the quarter, compared to analyst estimates of $50.15 million. Adaptive Biotechnologies had a negative net margin of 132.29% and a negative return on equity of 53.65%. On average, research analysts expect that Adaptive Biotechnologies will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Tycho Peterson sold 15,456 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.44, for a total transaction of $53,168.64. Following the completion of the sale, the chief financial officer now owns 531,553 shares of the company's stock, valued at $1,828,542.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Adaptive Biotechnologies news, insider Kyle Piskel sold 7,727 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $26,503.61. Following the completion of the sale, the insider now directly owns 123,318 shares in the company, valued at approximately $422,980.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Tycho Peterson sold 15,456 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.44, for a total value of $53,168.64. Following the sale, the chief financial officer now owns 531,553 shares of the company's stock, valued at approximately $1,828,542.32. The disclosure for this sale can be found here. Insiders have sold 124,307 shares of company stock worth $428,090 in the last 90 days. Insiders own 5.20% of the company's stock.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of ADPT. ARK Investment Management LLC lifted its position in Adaptive Biotechnologies by 11.3% during the fourth quarter. ARK Investment Management LLC now owns 12,806,513 shares of the company's stock valued at $62,752,000 after purchasing an additional 1,297,205 shares during the period. Assenagon Asset Management S.A. raised its position in Adaptive Biotechnologies by 1,760.6% during the third quarter. Assenagon Asset Management S.A. now owns 864,737 shares of the company's stock valued at $4,713,000 after acquiring an additional 818,262 shares in the last quarter. American Century Companies Inc. lifted its holdings in Adaptive Biotechnologies by 11.7% in the third quarter. American Century Companies Inc. now owns 824,318 shares of the company's stock valued at $4,493,000 after acquiring an additional 86,478 shares during the period. SG Americas Securities LLC boosted its position in Adaptive Biotechnologies by 20.2% in the 4th quarter. SG Americas Securities LLC now owns 70,571 shares of the company's stock worth $346,000 after purchasing an additional 11,851 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Adaptive Biotechnologies by 24.5% during the 3rd quarter. Federated Hermes Inc. now owns 1,385,207 shares of the company's stock worth $7,549,000 after purchasing an additional 272,720 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on ADPT. BTIG Research lowered their target price on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, April 4th. JPMorgan Chase & Co. dropped their price objective on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an "overweight" rating for the company in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group lowered their price target on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a "neutral" rating for the company in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and an average target price of $6.80.

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.