1492 Capital Management LLC Acquires 189,721 Shares of Adaptive Biotechnologies Corporation $ADPT

Key Points

• 1492 Capital Management sharply increased its stake in Adaptive Biotechnologies, buying 189,721 additional shares in Q1 and lifting its holdings by 207.6% to 281,096 shares worth about $3.9 million.
• Analyst sentiment is mixed but generally positive, with the stock carrying an average “Moderate Buy” rating and a consensus price target of $20.33. Recent moves included rating cuts and target changes from firms like Morgan Stanley, BTIG, and TD Cowen.
• Insider selling has been notable, including large sales by Harlan S. Robins and Francis Lo; company insiders sold 551,574 shares over the last three months. Despite this, Adaptive Biotechnologies recently beat earnings and revenue expectations, reporting $70.87 million in quarterly revenue, up 35.1% year over year.

1492 Capital Management LLC increased its holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 207.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,096 shares of the company's stock after acquiring an additional 189,721 shares during the period. Adaptive Biotechnologies comprises 1.5% of 1492 Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. 1492 Capital Management LLC owned 0.18% of Adaptive Biotechnologies worth $3,902,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ADPT. Caitong International Asset Management Co. Ltd purchased a new position in Adaptive Biotechnologies during the 4th quarter worth $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock worth $38,000 after buying an additional 1,565 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Adaptive Biotechnologies by 867.9% in the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company's stock worth $49,000 after buying an additional 2,708 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $51,000. Finally, Strive Financial Group LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 99.17% of the company's stock.

Analysts Set New Price Targets

ADPT has been the topic of a number of recent analyst reports. Wall Street Zen lowered Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Morgan Stanley reduced their price objective on Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 12th. BTIG Research reiterated a "buy" rating and set a $22.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, June 17th. TD Cowen lifted their target price on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Adaptive Biotechnologies currently has an average rating of "Moderate Buy" and an average price target of $20.33.

Insider Activity

In related news, insider Harlan S. Robins sold 100,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $17.37, for a total value of $1,737,000.00. Following the sale, the insider owned 1,412,058 shares in the company, valued at approximately $24,527,447.46. This trade represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 39,741 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $17.49, for a total value of $695,070.09. Following the transaction, the insider directly owned 250,934 shares of the company's stock, valued at $4,388,835.66. The trade was a 13.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 551,574 shares of company stock worth $8,427,395. Company insiders own 5.70% of the company's stock.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $20.97 on Friday. The stock's 50-day simple moving average is $15.37 and its 200 day simple moving average is $15.65. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -63.56 and a beta of 2.15. Adaptive Biotechnologies Corporation has a 52-week low of $9.96 and a 52-week high of $21.01.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The business had revenue of $70.87 million during the quarter, compared to analyst estimates of $61.03 million. During the same quarter in the previous year, the firm earned ($0.20) EPS. The company's quarterly revenue was up 35.1% compared to the same quarter last year. On average, research analysts forecast that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current fiscal year.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company's flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.

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