Proficio Capital Partners LLC Purchases New Shares in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Proficio Capital Partners LLC purchased a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,551 shares of the company’s stock, valued at approximately $93,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Adaptive Biotechnologies by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company’s stock valued at $5,735,000 after acquiring an additional 39,831 shares during the last quarter. Versor Investments LP acquired a new stake in Adaptive Biotechnologies in the fourth quarter worth $147,000. Private Advisor Group LLC bought a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $264,000. D.A. Davidson & CO. increased its stake in Adaptive Biotechnologies by 8.2% during the 4th quarter. D.A. Davidson & CO. now owns 88,450 shares of the company’s stock valued at $530,000 after purchasing an additional 6,725 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $860,000. Institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

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

Adaptive Biotechnologies Trading Down 6.7 %

Shares of ADPT opened at $7.67 on Friday. The firm has a fifty day simple moving average of $7.89 and a two-hundred day simple moving average of $6.35. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $9.01. The firm has a market cap of $1.14 billion, a PE ratio of -7.04 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, beating 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 previous year, the company posted ($0.30) EPS. As a group, research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kyle Piskel sold 10,320 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $72,033.60. Following the completion of the sale, the chief financial officer now owns 269,010 shares in the company, valued at approximately $1,877,689.80. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad M. Robins sold 211,160 shares of the business’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 of the company’s stock, valued at $21,901,958.50. This trade represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 757,601 shares of company stock worth $6,040,624. 6.20% of the stock is 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.