Algert Global LLC Buys 354,191 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Algert Global LLC lifted its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 464.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 430,514 shares of the company’s stock after buying an additional 354,191 shares during the quarter. Algert Global LLC’s holdings in Adaptive Biotechnologies were worth $2,581,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ADPT. Vanguard Group Inc. raised its holdings in Adaptive Biotechnologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock worth $64,236,000 after buying an additional 75,448 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Adaptive Biotechnologies by 17.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock worth $20,209,000 after acquiring an additional 489,555 shares during the last quarter. Geode Capital Management LLC raised its holdings in Adaptive Biotechnologies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,684,506 shares of the company’s stock worth $16,098,000 after acquiring an additional 22,628 shares during the last quarter. Voya Investment Management LLC lifted its position in Adaptive Biotechnologies by 6,121.7% in the 4th quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company’s stock valued at $14,560,000 after acquiring an additional 2,389,674 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Adaptive Biotechnologies by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company’s stock valued at $9,622,000 after purchasing an additional 183,881 shares during the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Down 0.1 %

Shares of NASDAQ ADPT opened at $8.81 on Thursday. Adaptive Biotechnologies Co. has a 12-month low of $2.99 and a 12-month high of $10.28. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -8.08 and a beta of 1.75. The firm has a 50 day moving average of $7.81 and a 200 day moving average of $6.97.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.08. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The firm had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. During the same period in the prior year, the business posted ($0.33) EPS. Adaptive Biotechnologies’s revenue was up 25.2% on a year-over-year basis. Sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 158,921 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was 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 directly owns 2,576,701 shares of the company’s stock, valued at $21,798,890.46. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Francis Lo sold 20,875 shares of the business’s stock in a transaction dated 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 owns 332,846 shares in the company, valued at $2,326,593.54. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 826,013 shares of company stock valued at $6,543,452 over the last quarter. 6.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADPT. Scotiabank upped their price target 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 raised their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Morgan Stanley increased their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Piper Sandler restated an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

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.