Renaissance Technologies LLC Increases Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Renaissance Technologies LLC increased its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 35.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 229,785 shares of the company's stock after buying an additional 60,385 shares during the period. Renaissance Technologies LLC owned 0.16% of Adaptive Biotechnologies worth $1,378,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Adaptive Biotechnologies by 149.5% in the third quarter. Barclays PLC now owns 230,177 shares of the company's stock worth $1,180,000 after acquiring an additional 137,936 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Adaptive Biotechnologies by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company's stock valued at $5,735,000 after purchasing an additional 39,831 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Adaptive Biotechnologies in the 4th quarter worth about $860,000. Proficio Capital Partners LLC purchased a new position in Adaptive Biotechnologies during the fourth quarter worth approximately $93,000. Finally, Legal & General Group Plc grew its holdings in Adaptive Biotechnologies by 902.9% in the fourth quarter. Legal & General Group Plc now owns 108,630 shares of the company's stock valued at $651,000 after purchasing an additional 97,798 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Peter M. Neupert sold 10,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the transaction, the director now directly owns 224,690 shares in the company, valued at $1,584,064.50. This trade represents a 4.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Hershberg sold 53,000 shares of the firm'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 of the company's stock, valued at approximately $528,947.10. The trade was a 43.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 757,601 shares of company stock valued at $6,040,624 in the last 90 days. Company insiders own 6.20% of the company's stock.

Adaptive Biotechnologies Stock Performance

ADPT remained flat at $7.36 during trading on Thursday. 2,014,779 shares of the company's stock were exchanged, compared to its average volume of 1,487,127. The company has a market capitalization of $1.09 billion, a P/E ratio of -6.75 and a beta of 1.73. The stock has a 50-day simple moving average of $7.77 and a two-hundred day simple moving average of $6.83. Adaptive Biotechnologies Co. has a twelve month low of $2.56 and a twelve month high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) 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%. On average, equities analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADPT has been the topic of several research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. The Goldman Sachs Group raised Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $8.00 to $9.00 in a research note on Friday, March 21st. Finally, Scotiabank increased their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $9.40.

Adaptive Biotechnologies 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.