Moore Capital Management LP Has $1.04 Million Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Moore Capital Management LP boosted its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) by 490.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,792 shares of the company’s stock after purchasing an additional 121,102 shares during the period. Moore Capital Management LP’s holdings in Adaptive Biotechnologies were worth $1,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC grew its position in shares of Adaptive Biotechnologies by 151.5% in the 3rd quarter. Manchester Capital Management LLC now owns 7,795 shares of the company’s stock valued at $56,000 after buying an additional 4,695 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Adaptive Biotechnologies in the third quarter worth approximately $61,000. PNC Financial Services Group Inc. boosted its holdings in Adaptive Biotechnologies by 176.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock worth $73,000 after acquiring an additional 3,380 shares in the last quarter. Mackenzie Financial Corp bought a new position in Adaptive Biotechnologies in the second quarter worth approximately $83,000. Finally, MetLife Investment Management LLC bought a new position in Adaptive Biotechnologies in the first quarter worth approximately $90,000. Institutional investors and hedge funds own 90.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley lowered their price objective on Adaptive Biotechnologies from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, February 16th. Scotiabank began coverage on Adaptive Biotechnologies in a research report on Wednesday, January 4th. They issued a “sector outperform” rating and a $15.00 target price for the company. Piper Sandler raised Adaptive Biotechnologies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $7.50 to $14.00 in a report on Wednesday, December 21st. Finally, Credit Suisse Group reaffirmed an “underperform” rating and issued a $7.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Adaptive Biotechnologies has an average rating of “Hold” and a consensus price target of $13.00.

Adaptive Biotechnologies Stock Down 2.7 %

Shares of ADPT opened at $8.00 on Friday. The stock has a market cap of $1.15 billion, a P/E ratio of -5.67 and a beta of 1.18. Adaptive Biotechnologies Co. has a 52 week low of $5.95 and a 52 week high of $15.19. The business’s 50 day moving average price is $8.99 and its 200-day moving average price is $8.33.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last announced its earnings results on Tuesday, February 14th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. The business had revenue of $55.20 million during the quarter, compared to analyst estimates of $55.25 million. Adaptive Biotechnologies had a negative net margin of 108.03% and a negative return on equity of 39.57%. The company’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.43) EPS. On average, equities analysts anticipate that Adaptive Biotechnologies Co. will post -1.15 EPS for the current year.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, President Julie Rubinstein sold 22,668 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $8.57, for a total transaction of $194,264.76. Following the completion of the transaction, the president now owns 336,824 shares of the company’s stock, valued at approximately $2,886,581.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Julie Rubinstein sold 22,668 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $8.57, for a total transaction of $194,264.76. Following the transaction, the president now directly owns 336,824 shares of the company’s stock, valued at $2,886,581.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stacy L. Taylor sold 5,491 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $8.57, for a total transaction of $47,057.87. Following the transaction, the senior vice president now directly owns 153,065 shares in the company, valued at $1,311,767.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,212 shares of company stock worth $335,977. Corporate insiders own 4.20% of the company’s stock.

About Adaptive Biotechnologies

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Adaptive Biotechnologies Corp. engages in the development of an immune medicine platform. Its products and services include immunoSEQ, clonoSEQ, cellular therapy, and vaccines. The company was founded by Chad Robins, Harlan Robins, and Chris Carlson on September 8, 2009 and is headquartered in Seattle, WA.