Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Bought by Soleus Capital Management L.P.

Soleus Capital Management L.P. grew its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 168.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,983,142 shares of the company’s stock after purchasing an additional 1,870,393 shares during the quarter. Adaptive Biotechnologies makes up about 1.1% of Soleus Capital Management L.P.’s portfolio, making the stock its 28th biggest holding. Soleus Capital Management L.P.’s holdings in Adaptive Biotechnologies were worth $17,884,000 at the end of the most recent reporting period.

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

Adaptive Biotechnologies Trading Up 1.6%

Shares of NASDAQ:ADPT opened at $9.05 on Monday. The firm has a market cap of $1.37 billion, a PE ratio of -8.30 and a beta of 1.75. The company has a fifty day simple moving average of $8.03 and a 200 day simple moving average of $7.23. Adaptive Biotechnologies Co. has a 12-month low of $2.99 and a 12-month high of $10.28.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.33) EPS. As a group, equities research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, Director Peter M. Neupert sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the sale, the director now directly owns 224,690 shares of the company’s stock, valued at approximately $1,584,064.50. This represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chad M. Robins sold 211,160 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total value of $1,794,860.00. Following the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at $21,901,958.50. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 667,092 shares of company stock worth $5,198,980 over the last quarter. 6.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADPT has been the subject of a number of analyst reports. Scotiabank upped their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. The Goldman Sachs Group boosted their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Adaptive Biotechnologies 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.