1492 Capital Management LLC Purchases Shares of 91,375 Adaptive Biotechnologies Corporation $ADPT

Key Points

• 1492 Capital Management disclosed a new stake in Adaptive Biotechnologies, buying 91,375 shares valued at about $1.48 million in the fourth quarter.
• Wall Street sentiment is mostly positive: analysts currently rate ADPT a Moderate Buy with an average price target of $19.57, though a few firms recently trimmed targets.
• Adaptive Biotechnologies reported quarterly results that beat expectations, with EPS of -$0.13 versus an expected -$0.16 and revenue of $70.87 million, up 35.1% year over year.

1492 Capital Management LLC purchased a new stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 91,375 shares of the company's stock, valued at approximately $1,484,000. 1492 Capital Management LLC owned about 0.06% of Adaptive Biotechnologies as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of ADPT. Ameriprise Financial Inc. lifted its position in shares of Adaptive Biotechnologies by 84.3% during the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock valued at $89,337,000 after buying an additional 2,731,648 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Adaptive Biotechnologies by 544.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company's stock valued at $36,523,000 after buying an additional 2,062,282 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Adaptive Biotechnologies by 103.9% during the fourth quarter. Jennison Associates LLC now owns 2,674,668 shares of the company's stock valued at $43,437,000 after buying an additional 1,363,181 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Adaptive Biotechnologies by 54.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,902,269 shares of the company's stock valued at $47,133,000 after purchasing an additional 1,022,417 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at approximately $14,934,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of 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. TD Cowen lifted their target price on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. BTIG Research reiterated a "buy" rating and issued a $22.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.57.

Insider Transactions at Adaptive Biotechnologies

In related news, CFO Kyle Piskel sold 3,115 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $13.04, for a total transaction of $40,619.60. Following the sale, the chief financial officer directly owned 256,725 shares of the company's stock, valued at $3,347,694. This trade represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Julie Rubinstein sold 19,037 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $14.23, for a total value of $270,896.51. Following the completion of the sale, the chief operating officer owned 377,802 shares in the company, valued at approximately $5,376,122.46. This represents a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,771,096 shares of company stock worth $23,926,217 over the last quarter. 5.70% of the stock is currently owned by insiders.

Adaptive Biotechnologies Trading Up 5.6%

ADPT opened at $15.99 on Thursday. Adaptive Biotechnologies Corporation has a 12-month low of $9.78 and a 12-month high of $20.76. The firm has a market capitalization of $2.56 billion, a PE ratio of -48.45 and a beta of 2.15. The firm has a 50 day moving average of $14.03 and a two-hundred day moving average of $15.57.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. The company had revenue of $70.87 million during the quarter, compared to the consensus estimate of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The firm's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.20) earnings per share. As a group, analysts predict that Adaptive Biotechnologies Corporation will post -0.48 EPS for the current fiscal year.

Adaptive Biotechnologies Profile

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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