Legato Capital Management LLC Has $1.11 Million Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Legato Capital Management LLC cut its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,668 shares of the company’s stock after selling 56,690 shares during the period. Legato Capital Management LLC owned about 0.13% of Adaptive Biotechnologies worth $1,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADPT. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Adaptive Biotechnologies during the third quarter worth $26,000. Ashton Thomas Securities LLC acquired a new position in Adaptive Biotechnologies during the 3rd quarter worth about $34,000. KBC Group NV acquired a new position in Adaptive Biotechnologies during the 4th quarter worth about $50,000. Townsquare Capital LLC bought a new stake in Adaptive Biotechnologies during the 3rd quarter worth about $56,000. Finally, GAMMA Investing LLC acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at about $59,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Trading Down 3.2 %

Adaptive Biotechnologies stock opened at $7.55 on Thursday. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $8.33. The company’s 50-day moving average is $6.92 and its two-hundred day moving average is $5.59. The company has a market cap of $1.11 billion, a PE ratio of -5.63 and a beta of 1.50.

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 analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 110.13% and a negative return on equity of 62.06%. During the same period in the previous year, the firm earned ($0.30) EPS. Research analysts forecast that Adaptive Biotechnologies Co. will post -1.08 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on ADPT shares. Piper Sandler increased their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group upped their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, BTIG Research lifted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th.

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.