Versor Investments LP Purchases New Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Versor Investments LP purchased a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 24,500 shares of the company’s stock, valued at approximately $147,000.

Several other institutional investors and hedge funds have also bought and sold shares of ADPT. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Adaptive Biotechnologies by 12.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after acquiring an additional 834,253 shares in the last quarter. Clearline Capital LP purchased a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth about $3,147,000. Point72 Asset Management L.P. bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $2,537,000. Rubric Capital Management LP increased its position in shares of Adaptive Biotechnologies by 2.9% during the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after buying an additional 400,000 shares during the period. Finally, Millrace Asset Group Inc. bought a new position in Adaptive Biotechnologies in the third quarter worth about $1,396,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Up 0.2 %

Adaptive Biotechnologies stock opened at $8.12 on Wednesday. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95. The company has a market capitalization of $1.20 billion, a P/E ratio of -7.45 and a beta of 1.53. The stock’s 50 day moving average is $7.44 and its 200 day moving average is $5.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last released 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 in the previous year, the company earned ($0.30) EPS. As a group, equities analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 211,160 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 approximately $21,901,958.50. This represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 469,188 shares of company stock worth $3,975,795. 6.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on ADPT shares. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Scotiabank lifted their price target 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. BTIG Research increased their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and a consensus price target of $9.10.

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.