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

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 38.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 35,521 shares of the company’s stock after purchasing 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 reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. KBC Group NV bought a new stake in Adaptive Biotechnologies during the 4th quarter worth about $50,000. Townsquare Capital LLC bought a new stake in shares of Adaptive Biotechnologies during the third quarter valued at approximately $56,000. GAMMA Investing LLC bought a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $59,000. Cibc World Markets Corp acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $65,000. Finally, Centiva Capital LP bought a new position in Adaptive Biotechnologies in the 3rd quarter worth approximately $80,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Down 6.7 %

Shares of Adaptive Biotechnologies stock opened at $7.67 on Friday. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $9.01. The business has a fifty day simple moving average of $7.89 and a 200 day simple moving average of $6.35. The stock 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 announced its quarterly 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 in the previous year, the firm posted ($0.30) earnings per share. Analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADPT has been the topic of a number of recent research reports. Piper Sandler reiterated 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. Scotiabank raised their price target on 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 boosted their price objective for the stock from $8.00 to $9.00 in a report on Friday, March 21st. Finally, BTIG Research raised their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of “Buy” and an average price target of $9.40.

Insiders Place Their Bets

In related news, Director Peter M. Neupert sold 10,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the sale, the director now owns 224,690 shares of the company’s stock, valued at approximately $1,584,064.50. This trade represents a 4.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 757,601 shares of company stock worth $6,040,624. Company insiders own 6.20% of the company’s stock.

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.