Proficio Capital Partners LLC Takes $93,000 Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Proficio Capital Partners LLC acquired a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,551 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $34,000. KBC Group NV acquired a new stake in Adaptive Biotechnologies during the fourth quarter worth $50,000. Townsquare Capital LLC acquired a new stake in Adaptive Biotechnologies during the third quarter worth $56,000. GAMMA Investing LLC purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at $59,000. Finally, Centiva Capital LP purchased a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth $80,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADPT shares. The Goldman Sachs Group boosted their price objective on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler restated an “overweight” rating and issued a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Scotiabank lifted their target price 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. Finally, BTIG Research boosted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Insider Activity

In other 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 completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at approximately $21,901,958.50. The trade was a 7.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $6.99, for a total transaction of $145,916.25. Following the transaction, the insider now owns 332,846 shares of the company’s stock, 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 quarter, insiders sold 755,903 shares of company stock worth $6,025,342. 6.20% of the stock is currently owned by company insiders.

Adaptive Biotechnologies Stock Down 5.9 %

Adaptive Biotechnologies stock opened at $7.17 on Friday. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95. The firm has a market cap of $1.07 billion, a PE ratio of -6.58 and a beta of 1.53. The company’s 50 day moving average is $7.65 and its two-hundred day moving average is $6.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company earned ($0.30) EPS. On average, equities research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

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.