Bridgefront Capital LLC Takes Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Bridgefront Capital LLC bought a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,293 shares of the company’s stock, valued at approximately $80,000.

Other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its position in shares of Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock worth $1,180,000 after buying an additional 137,936 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Adaptive Biotechnologies by 48.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company’s stock valued at $102,000 after acquiring an additional 6,500 shares during the period. GAMMA Investing LLC acquired a new position in Adaptive Biotechnologies in the 4th quarter valued at about $59,000. SG Americas Securities LLC increased its stake in Adaptive Biotechnologies by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 45,944 shares of the company’s stock worth $275,000 after purchasing an additional 4,799 shares during the period. Finally, Impact Partnership Wealth LLC lifted its position in shares of Adaptive Biotechnologies by 8.8% during the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock worth $114,000 after purchasing an additional 1,539 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADPT has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Scotiabank boosted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and a consensus target price of $9.83.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $9.03 on Friday. Adaptive Biotechnologies Co. has a 12 month low of $2.99 and a 12 month high of $10.28. The firm has a market capitalization of $1.37 billion, a PE ratio of -8.28 and a beta of 1.75. The business’s fifty day moving average price is $7.84 and its 200 day moving average price is $7.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.08. The business had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.33) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Buying and Selling

In other news, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $21,901,958.50. The trade was a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kyle Piskel sold 10,320 shares of the company’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 directly owns 269,010 shares of the company’s stock, valued at approximately $1,877,689.80. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 826,013 shares of company stock worth $6,543,452 in the last ninety days. 6.20% of the stock is owned by corporate insiders.

Adaptive Biotechnologies Company 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.