Short Interest in Adaptive Biotechnologies Co. (NASDAQ:ADPT) Increases By 7.6%

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 9,100,000 shares, an increase of 7.6% from the March 15th total of 8,460,000 shares. Currently, 6.6% of the shares of the company are sold short. Based on an average daily volume of 1,490,000 shares, the days-to-cover ratio is presently 6.1 days.

Insider Activity at Adaptive Biotechnologies

In other news, President Julie Rubinstein sold 39,070 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.47, for a total transaction of $135,572.90. Following the completion of the transaction, the president now owns 472,754 shares of the company’s stock, valued at $1,640,456.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Stacy L. Taylor sold 13,381 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $45,896.83. Following the completion of the transaction, the senior vice president now directly owns 166,287 shares of the company’s stock, valued at $570,364.41. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Julie Rubinstein sold 39,070 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.47, for a total transaction of $135,572.90. Following the completion of the sale, the president now directly owns 472,754 shares in the company, valued at approximately $1,640,456.38. The disclosure for this sale can be found here. Insiders sold a total of 124,307 shares of company stock worth $428,090 in the last ninety days. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP bought a new position in shares of Adaptive Biotechnologies in the fourth quarter worth about $14,027,000. ARK Investment Management LLC lifted its holdings in Adaptive Biotechnologies by 11.3% during the 4th quarter. ARK Investment Management LLC now owns 12,806,513 shares of the company’s stock worth $62,752,000 after buying an additional 1,297,205 shares in the last quarter. Bellevue Group AG boosted its position in Adaptive Biotechnologies by 59.8% in the 1st quarter. Bellevue Group AG now owns 3,145,293 shares of the company’s stock valued at $43,657,000 after buying an additional 1,176,862 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at $10,327,000. Finally, BlackRock Inc. raised its position in shares of Adaptive Biotechnologies by 12.2% during the third quarter. BlackRock Inc. now owns 10,119,409 shares of the company’s stock worth $72,051,000 after acquiring an additional 1,098,301 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BTIG Research dropped their price target on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. The Goldman Sachs Group dropped their target price on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. decreased their price target on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.80.

Adaptive Biotechnologies Trading Down 5.5 %

NASDAQ:ADPT opened at $2.75 on Wednesday. The stock has a market capitalization of $399.00 million, a P/E ratio of -1.76 and a beta of 1.25. Adaptive Biotechnologies has a 1 year low of $2.53 and a 1 year high of $9.08. The firm has a 50 day moving average of $3.46 and a 200-day moving average of $4.12.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.02. The firm had revenue of $45.78 million during the quarter, compared to the consensus estimate of $50.15 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. As a group, analysts forecast that Adaptive Biotechnologies will post -1.31 EPS for the current fiscal year.

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.