PDT Partners LLC Buys 35,899 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

PDT Partners LLC increased its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 12.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 316,281 shares of the company's stock after acquiring an additional 35,899 shares during the period. PDT Partners LLC owned about 0.21% of Adaptive Biotechnologies worth $1,896,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. KBC Group NV bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $50,000. GAMMA Investing LLC bought a new stake in Adaptive Biotechnologies during the fourth quarter worth $59,000. Cibc World Markets Corp acquired a new stake in Adaptive Biotechnologies in the fourth quarter valued at $65,000. Amundi grew its position in shares of 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 acquiring an additional 4,531 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth about $93,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Trading Up 0.7 %

ADPT stock traded up $0.07 during trading hours on Monday, hitting $9.91. 2,727,479 shares of the stock were exchanged, compared to its average volume of 1,551,739. Adaptive Biotechnologies Co. has a 12 month low of $2.99 and a 12 month high of $10.28. The firm has a market capitalization of $1.50 billion, a P/E ratio of -9.08 and a beta of 1.75. The company has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $6.91.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $52.44 million during the quarter, compared to analysts' expectations of $42.13 million. During the same quarter in the previous year, the company earned ($0.33) EPS. The business's revenue was up 25.2% on a year-over-year basis. On average, equities research analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 53,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the completion of the transaction, the director now directly owns 69,690 shares in the company, valued at $528,947.10. The trade was a 43.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad M. Robins sold 211,160 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total value of $1,794,860.00. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at approximately $21,901,958.50. This represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 757,601 shares of company stock valued at $6,040,624 over the last 90 days. 6.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADPT. Morgan Stanley raised 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. 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 research note on Friday. Piper Sandler restated an "overweight" rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Finally, Scotiabank lifted their price objective 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $9.50.

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.