Adaptive Biotechnologies Co. (NASDAQ:ADPT) Short Interest Update

Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 9,100,000 shares, a growth of 7.6% from the March 15th total of 8,460,000 shares. Based on an average daily trading volume, of 1,490,000 shares, the short-interest ratio is currently 6.1 days. Currently, 6.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, February 15th. BTIG Research lowered their target price on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Finally, The Goldman Sachs Group reduced their price target on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.80.

Adaptive Biotechnologies Trading Up 14.9 %

NASDAQ ADPT opened at $3.01 on Monday. The business’s 50-day moving average price is $3.47 and its two-hundred day moving average price is $4.14. Adaptive Biotechnologies has a 12 month low of $2.53 and a 12 month high of $9.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. The firm had revenue of $45.78 million for the quarter, compared to analyst estimates of $50.15 million. As a group, sell-side analysts anticipate that Adaptive Biotechnologies will post -1.31 earnings per share for the current year.

Insider Transactions at Adaptive Biotechnologies

In other news, SVP Stacy L. Taylor sold 13,381 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $45,896.83. Following the completion of the transaction, the senior vice president now owns 166,287 shares of the company’s stock, valued at approximately $570,364.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 48,673 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $166,948.39. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $8,838,084.43. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Stacy L. Taylor sold 13,381 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $45,896.83. Following the completion of the transaction, the senior vice president now directly owns 166,287 shares of the company’s stock, valued at approximately $570,364.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,307 shares of company stock valued at $428,090. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Middle East FZE bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at about $26,000. Meeder Asset Management Inc. boosted its position in shares of Adaptive Biotechnologies by 407.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,632 shares of the company’s stock valued at $43,000 after purchasing an additional 4,523 shares in the last quarter. Personal CFO Solutions LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at about $55,000. PNC Financial Services Group Inc. boosted its position in shares of Adaptive Biotechnologies by 23.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,432 shares of the company’s stock valued at $57,000 after purchasing an additional 1,587 shares in the last quarter. Finally, AXQ Capital LP bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $58,000. Institutional investors own 99.17% 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.