Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC cut its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,668 shares of the company's stock after selling 56,690 shares during the period. Legato Capital Management LLC owned approximately 0.13% of Adaptive Biotechnologies worth $1,107,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Rubric Capital Management LP lifted its holdings in Adaptive Biotechnologies by 2.9% during the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company's stock valued at $73,728,000 after buying an additional 400,000 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company's stock valued at $59,398,000 after buying an additional 189,134 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Adaptive Biotechnologies by 12.1% during the 3rd 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. State Street Corp raised its holdings in shares of Adaptive Biotechnologies by 2.0% in the 3rd quarter. State Street Corp now owns 2,551,785 shares of the company's stock valued at $13,065,000 after purchasing an additional 48,885 shares in the last quarter. Finally, Pier Capital LLC raised its holdings in shares of Adaptive Biotechnologies by 20.9% in the 3rd quarter. Pier Capital LLC now owns 1,275,885 shares of the company's stock valued at $6,533,000 after purchasing an additional 220,586 shares in the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an "overweight" rating in a report on Monday, November 11th. BTIG Research boosted their price target 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 boosted their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Adaptive Biotechnologies has an average rating of "Moderate Buy" and a consensus target price of $8.30.

Adaptive Biotechnologies Stock Down 2.2 %

NASDAQ:ADPT traded down $0.19 during trading hours on Friday, hitting $8.33. 2,005,056 shares of the company were exchanged, compared to its average volume of 1,356,083. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.74. The company's 50 day moving average price is $7.01 and its 200-day moving average price is $5.65.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 110.13% and a negative return on equity of 62.06%. During the same quarter in the prior year, the firm posted ($0.30) EPS. Analysts anticipate that Adaptive Biotechnologies Co. will post -1.08 EPS for the current year.

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.