576,266 Shares in Adaptive Biotechnologies Corporation $ADPT Bought by Wasatch Advisors LP

Key Points

• Wasatch Advisors LP acquired 576,266 shares of Adaptive Biotechnologies in the second quarter, worth approximately $12.4 million and representing about 0.36% of the company. Institutional investors collectively own 99.17% of ADPT.
• Adaptive Biotechnologies reported quarterly revenue of $71.55 million, up 21.5% year over year and above estimates, but its $0.25 per-share loss was wider than expected. The stock recently traded at $25.25, near its 52-week high of $26.16.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $24.42, although insiders sold 1.31 million shares worth approximately $27.9 million over the past 90 days.

Wasatch Advisors LP purchased a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 576,266 shares of the company's stock, valued at approximately $12,361,000. Wasatch Advisors LP owned approximately 0.36% of Adaptive Biotechnologies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ADPT. Handelsbanken Fonder AB bought a new position in shares of Adaptive Biotechnologies in the second quarter worth about $1,416,000. Assenagon Asset Management S.A. purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth about $512,000. Perceptive Advisors LLC bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at approximately $2,117,000. Bank of America Corp DE raised its stake in Adaptive Biotechnologies by 52.3% during the 1st quarter. Bank of America Corp DE now owns 1,227,917 shares of the company's stock valued at $17,043,000 after purchasing an additional 421,645 shares during the period. Finally, Amundi purchased a new position in Adaptive Biotechnologies in the 1st quarter worth approximately $148,000. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $25.25 on Thursday. Adaptive Biotechnologies Corporation has a fifty-two week low of $11.92 and a fifty-two week high of $26.16. The firm has a market capitalization of $4.03 billion, a PE ratio of -61.59 and a beta of 2.08. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The stock's fifty day moving average is $21.00 and its 200 day moving average is $17.02.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The firm had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. During the same quarter last year, the business posted ($0.17) EPS. Adaptive Biotechnologies's revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADPT. TD Cowen increased their price objective on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Piper Sandler upped their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Guggenheim lifted their price target on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $24.42.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, insider Francis Lo sold 44,838 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $22.59, for a total value of $1,012,890.42. Following the completion of the sale, the insider directly owned 230,713 shares of the company's stock, valued at $5,211,806.67. The trade was a 16.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 492,400 shares of the company's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $21.89, for a total transaction of $10,778,636.00. Following the completion of the transaction, the insider owned 812,058 shares in the company, valued at $17,775,949.62. This represents a 37.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,310,086 shares of company stock worth $27,934,739. 5.70% of the stock is currently owned by company insiders.

Adaptive Biotechnologies Company 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.

Want to see what other hedge funds are holding ADPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source