66,000 Shares in Adaptive Biotechnologies Corporation $ADPT Bought by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB bought 66,000 shares of Adaptive Biotechnologies in the second quarter, valued at approximately $1.42 million. Institutional investors and hedge funds collectively own 99.17% of the company.
• Analysts remain broadly positive, with five Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $24.42. Recent targets range from $22 to $27.50.
• Adaptive reported quarterly revenue of $71.55 million, up 21.5% year over year and above estimates, but its $0.25 loss per share missed expectations. Meanwhile, insiders sold more than 1.3 million shares worth $27.9 million over the past 90 days.

Handelsbanken Fonder AB bought a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 66,000 shares of the company's stock, valued at approximately $1,416,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth about $512,000. Perceptive Advisors LLC bought a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at about $2,117,000. Bank of America Corp DE raised its holdings 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 worth $17,043,000 after buying an additional 421,645 shares during the period. Amundi bought a new position in Adaptive Biotechnologies in the first quarter valued at approximately $148,000. Finally, California State Teachers Retirement System lifted its stake in Adaptive Biotechnologies by 28.4% in the first quarter. California State Teachers Retirement System now owns 143,658 shares of the company's stock valued at $1,994,000 after buying an additional 31,782 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider Sharon Benzeno sold 154,768 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the sale, the insider owned 221,278 shares in the company, valued at approximately $4,677,816.92. This represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 51,004 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.45, for a total value of $1,145,039.80. Following the transaction, the insider directly owned 237,688 shares of the company's stock, valued at $5,336,095.60. This trade represents a 17.67% 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. Insiders have sold 1,306,971 shares of company stock worth $27,894,120 over the last 90 days. 5.70% of the stock is currently owned by insiders.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $24.56 on Wednesday. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $26.16. The company has a market capitalization of $3.92 billion, a PE ratio of -59.90 and a beta of 2.08. The firm's 50 day moving average is $21.58 and its 200-day moving average is $17.19.

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