ExodusPoint Capital Management LP Takes Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

ExodusPoint Capital Management LP bought a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 246,865 shares of the company's stock, valued at approximately $1,480,000. ExodusPoint Capital Management LP owned approximately 0.17% of Adaptive Biotechnologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC grew its holdings 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 position in shares of Adaptive Biotechnologies by 4.3% during 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 during the last quarter. FMR LLC lifted its stake in shares of Adaptive Biotechnologies by 102.0% in the 3rd quarter. FMR LLC now owns 233,566 shares of the company's stock worth $1,196,000 after purchasing an additional 117,965 shares during the period. Principal Financial Group Inc. bought a new position in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $860,000. Finally, State Street Corp boosted its holdings in shares of Adaptive Biotechnologies by 2.0% in the third quarter. State Street Corp now owns 2,551,785 shares of the company's stock worth $13,065,000 after buying an additional 48,885 shares during the last quarter. Institutional investors own 99.17% of the company's stock.

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Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT traded down $0.07 during mid-day trading on Tuesday, reaching $7.75. The company's stock had a trading volume of 434,974 shares, compared to its average volume of 1,500,753. The stock has a fifty day moving average of $7.91 and a two-hundred day moving average of $6.66. The firm has a market capitalization of $1.15 billion, a PE ratio of -7.11 and a beta of 1.73. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter last year, the company posted ($0.30) earnings per share. Analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Francis Lo sold 20,875 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total value of $145,916.25. Following the completion of the transaction, the insider now directly owns 332,846 shares of the company's stock, valued at approximately $2,326,593.54. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad M. Robins sold 158,921 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at $21,798,890.46. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 757,601 shares of company stock valued at $6,040,624 in the last 90 days. Insiders own 6.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BTIG Research upped their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. The Goldman Sachs Group upgraded Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $8.00 to $9.00 in a research note on Friday, March 21st. Piper Sandler reissued an "overweight" rating and set a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Finally, Scotiabank upped their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of "Buy" and a consensus price target of $9.40.

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.