DDD Partners LLC cut its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 91.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,747 shares of the company's stock after selling 704,419 shares during the period. DDD Partners LLC's holdings in Adaptive Biotechnologies were worth $388,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC lifted its position in Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company's stock worth $1,180,000 after buying an additional 137,936 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Adaptive Biotechnologies by 12.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company's stock valued at $39,597,000 after buying an additional 834,253 shares in the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of Adaptive Biotechnologies in the third quarter valued at $1,396,000. Point72 Asset Management L.P. purchased a new position in Adaptive Biotechnologies in the third quarter valued at $2,537,000. Finally, Rubric Capital Management LP boosted its holdings in Adaptive Biotechnologies by 2.9% in the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company's stock valued at $73,728,000 after purchasing an additional 400,000 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 211,160 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,576,701 shares of the company's stock, valued at approximately $21,901,958.50. This trade represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.20% of the company's stock.
Adaptive Biotechnologies Price Performance
Shares of NASDAQ ADPT traded down $0.04 during midday trading on Thursday, hitting $8.33. 1,651,605 shares of the company's stock were exchanged, compared to its average volume of 1,618,009. The stock's 50 day moving average price is $7.16 and its 200-day moving average price is $5.75. The firm has a market cap of $1.23 billion, a P/E ratio of -7.64 and a beta of 1.50. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period in the previous year, the company earned ($0.30) EPS. On average, analysts expect that Adaptive Biotechnologies Co. will post -0.94 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Scotiabank boosted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. The Goldman Sachs Group boosted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. BTIG Research upped their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Piper Sandler restated an "overweight" rating and set a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.10.
Check Out Our Latest Research Report on ADPT
About Adaptive Biotechnologies
(
Free Report)
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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