Fox Run Management L.L.C. Buys New Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Fox Run Management L.L.C. purchased a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,934 shares of the company’s stock, valued at approximately $120,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Adaptive Biotechnologies by 2.0% during the 3rd quarter. State Street Corp now owns 2,551,785 shares of the company’s stock worth $13,065,000 after acquiring an additional 48,885 shares in the last quarter. Pier Capital LLC grew its holdings in Adaptive Biotechnologies by 20.9% in the third quarter. Pier Capital LLC now owns 1,275,885 shares of the company’s stock valued at $6,533,000 after purchasing an additional 220,586 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Adaptive Biotechnologies by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company’s stock valued at $5,735,000 after buying an additional 39,831 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Adaptive Biotechnologies by 58.7% during the 3rd quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock worth $3,555,000 after buying an additional 256,933 shares during the period. Finally, Clearline Capital LP purchased a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at approximately $3,147,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Down 6.7 %

ADPT stock opened at $7.67 on Friday. The firm has a 50-day moving average of $7.89 and a two-hundred day moving average of $6.35. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $9.01. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -7.04 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data 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 quarter in the prior year, the business earned ($0.30) EPS. As a group, equities analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADPT has been the subject of a number of research analyst reports. 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 research report on Friday, March 21st. Scotiabank raised their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and set a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Finally, BTIG Research raised their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $9.40.

Insider Activity

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 158,921 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $8.46, for a total value of $1,344,471.66. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,798,890.46. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter M. Neupert sold 10,000 shares of the firm’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 owns 224,690 shares of the company’s stock, valued at $1,584,064.50. This represents a 4.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 757,601 shares of company stock valued at $6,040,624. 6.20% of the stock is currently owned by insiders.

About Adaptive Biotechnologies

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.