Two Sigma Investments LP Has $1.10 Million Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Two Sigma Investments LP increased its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 251.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,838 shares of the company’s stock after purchasing an additional 131,478 shares during the period. Two Sigma Investments LP owned approximately 0.12% of Adaptive Biotechnologies worth $1,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth approximately $50,000. Cibc World Markets Corp bought a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $65,000. Bridgefront Capital LLC acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $80,000. Proficio Capital Partners LLC acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $93,000. Finally, Amundi lifted its position in Adaptive Biotechnologies by 41.2% in the 4th quarter. Amundi now owns 15,532 shares of the company’s stock valued at $93,000 after acquiring an additional 4,531 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $9.87 on Friday. The stock has a market capitalization of $1.50 billion, a PE ratio of -9.05 and a beta of 1.75. The company’s 50-day moving average price is $8.46 and its two-hundred day moving average price is $7.57. Adaptive Biotechnologies Co. has a one year low of $2.99 and a one year high of $10.28.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (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 business had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Adaptive Biotechnologies’s revenue was up 25.2% on a year-over-year basis. On average, analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total value of $502,828.20. Following the completion of the sale, the insider now owns 1,279,524 shares in the company, valued at $9,404,501.40. This trade represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter M. Neupert sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the transaction, the director now owns 224,690 shares in the company, valued at $1,584,064.50. This represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 135,039 shares of company stock valued at $1,008,029 in the last 90 days. 6.40% of the stock is currently owned by insiders.

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.