Trexquant Investment LP Makes New Investment in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Trexquant Investment LP purchased a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 185,868 shares of the company's stock, valued at approximately $1,114,000. Trexquant Investment LP owned about 0.13% of Adaptive Biotechnologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Barclays PLC grew its position in Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company's stock valued at $1,180,000 after acquiring an additional 137,936 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Adaptive Biotechnologies by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company's stock valued at $5,735,000 after buying an additional 39,831 shares during the period. FMR LLC grew its stake in Adaptive Biotechnologies by 102.0% during the third quarter. FMR LLC now owns 233,566 shares of the company's stock worth $1,196,000 after buying an additional 117,965 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth $860,000. Finally, State Street Corp raised its stake 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 acquiring an additional 48,885 shares during the period. Hedge funds and other institutional investors own 99.17% of the company's stock.

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Adaptive Biotechnologies Trading Down 2.6 %

Adaptive Biotechnologies stock traded down $0.20 during midday trading on Tuesday, hitting $7.62. The stock had a trading volume of 700,925 shares, compared to its average volume of 1,501,932. The business has a fifty day moving average price of $7.91 and a 200 day moving average price of $6.66. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $9.01. The stock has a market cap of $1.13 billion, a P/E ratio of -6.99 and a beta of 1.73.

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, beating the consensus estimate 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 business earned ($0.30) earnings per share. On average, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,901,958.50. This trade represents a 7.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Francis Lo sold 20,875 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total value of $145,916.25. Following the transaction, the insider now owns 332,846 shares of the company's stock, valued at approximately $2,326,593.54. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 757,601 shares of company stock valued at $6,040,624. 6.20% of the stock is currently owned by insiders.

About Adaptive Biotechnologies

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.