Fox Run Management L.L.C. Invests $120,000 in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Fox Run Management L.L.C. bought a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 19,934 shares of the company’s stock, valued at approximately $120,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADPT. Intech Investment Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the third quarter valued at $176,000. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 10,262 shares in the last quarter. Cerity Partners LLC increased its stake in Adaptive Biotechnologies by 58.7% during the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock worth $3,555,000 after purchasing an additional 256,933 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth about $177,000. Finally, FMR LLC boosted its stake in shares of Adaptive Biotechnologies by 102.0% in the third quarter. FMR LLC now owns 233,566 shares of the company’s stock valued at $1,196,000 after purchasing an additional 117,965 shares during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

ADPT has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $8.00 to $9.00 in a research note on Friday, March 21st. 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 note on Thursday, February 20th. 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, BTIG Research increased their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $9.40.

Insiders Place Their Bets

In related news, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, February 18th. The shares were 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 directly owns 2,576,701 shares in the company, valued at $21,901,958.50. This trade represents a 7.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Francis Lo sold 20,875 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were 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 of the company’s stock, valued at approximately $2,326,593.54. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 757,601 shares of company stock valued at $6,040,624. 6.20% of the stock is owned by corporate insiders.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $7.67 on Friday. The firm has a market capitalization of $1.14 billion, a PE ratio of -7.04 and a beta of 1.53. The business’s fifty day moving average price is $7.89 and its 200 day moving average price is $6.35. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $9.01.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data 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 prior year, the company posted ($0.30) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

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.