IQ EQ FUND MANAGEMENT IRELAND Ltd Acquires 9,945 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 38.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,521 shares of the company’s stock after buying an additional 9,945 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Adaptive Biotechnologies were worth $213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC raised its stake in shares of Adaptive Biotechnologies by 149.5% in the 3rd quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after acquiring an additional 137,936 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Adaptive Biotechnologies in the third quarter worth $2,537,000. Cerity Partners LLC lifted its stake in shares of Adaptive Biotechnologies by 58.7% in the third 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 last quarter. FMR LLC boosted its holdings in shares of Adaptive Biotechnologies by 102.0% during the 3rd quarter. FMR LLC now owns 233,566 shares of the company’s stock worth $1,196,000 after buying an additional 117,965 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Adaptive Biotechnologies by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,743 shares of the company’s stock valued at $4,694,000 after buying an additional 10,262 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Down 6.7 %

Adaptive Biotechnologies stock opened at $7.67 on Friday. The business has a 50 day moving average price of $7.89 and a two-hundred day moving average price of $6.35. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $9.01. The stock 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 issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS 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 period last year, the business earned ($0.30) earnings per share. On average, analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Scotiabank upped their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $8.00 to $9.00 in a report on Friday, March 21st. BTIG Research lifted 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 reissued an “overweight” rating and issued a $11.00 price objective (up 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, the company currently has a consensus rating of “Buy” and a consensus target price of $9.40.

Insider Transactions at Adaptive Biotechnologies

In other news, Director Peter M. Neupert sold 10,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $7.05, for a total value of $70,500.00. Following the sale, the director now owns 224,690 shares in the company, valued at approximately $1,584,064.50. The trade was a 4.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Francis Lo sold 20,875 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total transaction of $145,916.25. Following the completion of the sale, the insider now directly owns 332,846 shares in the company, valued at approximately $2,326,593.54. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 757,601 shares of company stock valued at $6,040,624. Company insiders own 6.20% of the company’s stock.

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.