EntryPoint Capital LLC Sells 8,394 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

EntryPoint Capital LLC trimmed its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 25.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 24,986 shares of the company’s stock after selling 8,394 shares during the period. EntryPoint Capital LLC’s holdings in Adaptive Biotechnologies were worth $80,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new position in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $32,000. Personal CFO Solutions LLC purchased a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $55,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Adaptive Biotechnologies during the first quarter worth $46,000. QRG Capital Management Inc. purchased a new position in Adaptive Biotechnologies in the fourth quarter worth $71,000. Finally, First Trust Direct Indexing L.P. bought a new position in Adaptive Biotechnologies in the 1st quarter valued at $47,000. 99.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, BTIG Research lowered their target price on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and a consensus price target of $6.80.

Adaptive Biotechnologies Trading Up 4.2 %

Adaptive Biotechnologies stock opened at $4.51 on Friday. The business’s 50 day simple moving average is $3.63 and its 200 day simple moving average is $3.53. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $8.51.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.02. Adaptive Biotechnologies had a negative return on equity of 56.58% and a negative net margin of 123.24%. The firm had revenue of $41.87 million for the quarter, compared to analysts’ expectations of $38.78 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts expect that Adaptive Biotechnologies Co. will post -1.29 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.