Tudor Investment Corp ET AL Sells 57,284 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Tudor Investment Corp ET AL trimmed its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 458,488 shares of the company's stock after selling 57,284 shares during the period. Tudor Investment Corp ET AL owned about 0.31% of Adaptive Biotechnologies worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ADPT. KBC Group NV bought a new position in Adaptive Biotechnologies in the 4th quarter valued at about $50,000. GAMMA Investing LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $59,000. Cibc World Markets Corp purchased a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $65,000. Proficio Capital Partners LLC bought a new stake in Adaptive Biotechnologies during the fourth quarter worth $93,000. Finally, Amundi raised 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 during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ADPT. The Goldman Sachs Group upped their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday. Piper Sandler reiterated an "overweight" rating and issued a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Finally, Scotiabank boosted their target price 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $9.60.

Insider Transactions at Adaptive Biotechnologies

In related news, Director Peter M. Neupert sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $7.05, for a total value of $70,500.00. Following the completion of the transaction, the director now directly owns 224,690 shares of the company's stock, valued at approximately $1,584,064.50. This trade represents a 4.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Hershberg sold 53,000 shares of the business's stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 757,601 shares of company stock worth $6,040,624. 6.20% of the stock is owned by company insiders.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock opened at $9.84 on Friday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -9.03 and a beta of 1.73. Adaptive Biotechnologies Co. has a 52 week low of $2.95 and a 52 week high of $10.28. The firm's 50-day simple moving average is $7.76 and its two-hundred day simple moving average is $6.88.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results 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 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 analysts' expectations of $42.13 million. During the same quarter in the previous year, the firm posted ($0.33) EPS. Adaptive Biotechnologies's revenue was up 25.2% on a year-over-year basis. Analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

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.

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