Jane Street Group LLC Sells 97,690 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Jane Street Group LLC decreased its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 19.4% in the 4th quarter, Holdings Channel reports. The fund owned 406,587 shares of the company’s stock after selling 97,690 shares during the quarter. Jane Street Group LLC’s holdings in Adaptive Biotechnologies were worth $2,437,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $50,000. Cibc World Markets Corp bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $65,000. Amundi grew its stake in shares of Adaptive Biotechnologies by 41.2% during the 4th quarter. Amundi now owns 15,532 shares of the company’s stock worth $93,000 after acquiring an additional 4,531 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $93,000. Finally, Walleye Capital LLC bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $94,000. Institutional investors own 99.17% of the company’s stock.

Insider Buying and Selling

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 211,160 shares of the company’s stock in a transaction that occurred on 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 directly owns 2,576,701 shares in the company, valued at $21,901,958.50. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter M. Neupert sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $7.05, for a total value of $70,500.00. Following the sale, the director now owns 224,690 shares in the company, valued at approximately $1,584,064.50. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 667,092 shares of company stock valued at $5,198,980 over the last 90 days. Company insiders own 6.20% of the company’s stock.

Adaptive Biotechnologies Price Performance

ADPT opened at $8.91 on Friday. The stock’s 50 day simple moving average is $8.00 and its 200 day simple moving average is $7.17. Adaptive Biotechnologies Co. has a 1 year low of $2.99 and a 1 year high of $10.28. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -8.17 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. The company 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 firm’s revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.33) earnings per share. As a group, sell-side analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADPT. Piper Sandler reissued an “overweight” rating and set a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Morgan Stanley increased their price objective on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Scotiabank increased their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

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.