51,694 Shares in Adaptive Biotechnologies Co. (NASDAQ:ADPT) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the fourth quarter, Holdings Channel.com reports. The fund acquired 51,694 shares of the company’s stock, valued at approximately $310,000.

A number of other large investors have also recently made changes to their positions in ADPT. Barclays PLC lifted its stake in shares of Adaptive Biotechnologies by 149.5% in the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after buying an additional 137,936 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Adaptive Biotechnologies by 48.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company’s stock valued at $102,000 after buying an additional 6,500 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at $59,000. SG Americas Securities LLC lifted its stake in shares of Adaptive Biotechnologies by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 45,944 shares of the company’s stock valued at $275,000 after buying an additional 4,799 shares in the last quarter. Finally, Impact Partnership Wealth LLC lifted its stake in shares of Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock valued at $114,000 after buying an additional 1,539 shares in the last quarter. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $7.77 on Tuesday. Adaptive Biotechnologies Co. has a 52-week low of $2.56 and a 52-week high of $9.01. The company has a 50-day simple moving average of $7.80 and a 200 day simple moving average of $6.81. The company has a market capitalization of $1.15 billion, a PE ratio of -7.13 and a beta of 1.73.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm earned ($0.30) earnings per share. As a group, analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $8.00 to $9.00 in a research note on Friday, March 21st. Scotiabank increased their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Adaptive Biotechnologies presently has an average rating of “Buy” and a consensus price target of $9.40.

Insider Buying and Selling

In related news, CEO Chad M. Robins sold 211,160 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $21,901,958.50. This trade represents a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Hershberg sold 53,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the sale, the director now owns 69,690 shares of the company’s stock, valued at $528,947.10. This trade represents a 43.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 757,601 shares of company stock worth $6,040,624. Insiders own 6.20% of the company’s stock.

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.