PDT Partners LLC Acquires 35,899 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

PDT Partners LLC boosted its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 12.8% during the fourth quarter, Holdings Channel reports. The firm owned 316,281 shares of the company’s stock after acquiring an additional 35,899 shares during the quarter. PDT Partners LLC’s holdings in Adaptive Biotechnologies were worth $1,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Impact Partnership Wealth LLC grew its holdings in shares of Adaptive Biotechnologies by 8.8% during the 4th quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock worth $114,000 after acquiring an additional 1,539 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Adaptive Biotechnologies by 2.7% during the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock valued at $486,000 after purchasing an additional 2,163 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Adaptive Biotechnologies by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock worth $188,000 after purchasing an additional 2,928 shares during the period. MetLife Investment Management LLC raised its holdings in Adaptive Biotechnologies by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 68,976 shares of the company’s stock worth $414,000 after purchasing an additional 3,650 shares in the last quarter. Finally, Amundi lifted its position in Adaptive Biotechnologies by 41.2% during the fourth quarter. Amundi now owns 15,532 shares of the company’s stock valued at $93,000 after buying an additional 4,531 shares during the period. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $7.61 on Wednesday. The firm has a market cap of $1.13 billion, a P/E ratio of -6.98 and a beta of 1.73. Adaptive Biotechnologies Co. has a fifty-two week low of $2.56 and a fifty-two week high of $9.01. The firm has a 50-day simple moving average of $7.79 and a two-hundred day simple moving average of $6.83.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period last year, the business posted ($0.30) earnings per share. On average, equities research analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kyle Piskel sold 10,320 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $72,033.60. Following the transaction, the chief financial officer now owns 269,010 shares in the company, valued at $1,877,689.80. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad M. Robins sold 211,160 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $21,901,958.50. This represents a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 757,601 shares of company stock worth $6,040,624. 6.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADPT. Scotiabank upped their target price 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, February 13th. The Goldman Sachs Group upgraded shares of 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 report on Friday, March 21st. Finally, Piper Sandler reiterated an “overweight” rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.