Adaptive Biotechnologies Corporation $ADPT Holdings Lowered by Lisanti Capital Growth LLC

Key Points

• Lisanti Capital Growth LLC cut its Adaptive Biotechnologies stake by 52.4% in the fourth quarter, though it still held 142,515 shares worth about $2.31 million. Despite the sale, institutional ownership remains extremely high at 99.17%.
• Adaptive Biotechnologies reported a quarterly loss of $0.13 per share, beating Wall Street’s estimate of a $0.16 loss, while revenue of $70.87 million also topped expectations and rose 35.1% year over year.
• Analyst sentiment is mixed but leans positive: the stock currently carries a Moderate Buy consensus with an average price target of $19.57, even as some firms lowered targets or issued hold/sell ratings.

Lisanti Capital Growth LLC trimmed its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 52.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,515 shares of the company's stock after selling 156,665 shares during the quarter. Lisanti Capital Growth LLC owned about 0.09% of Adaptive Biotechnologies worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADPT. EverSource Wealth Advisors LLC raised its position in shares of Adaptive Biotechnologies by 197.1% during 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 in the last quarter. Assetmark Inc. raised its holdings 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 purchasing an additional 2,708 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Adaptive Biotechnologies by 593.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company's stock worth $59,000 after purchasing an additional 3,371 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $93,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Adaptive Biotechnologies by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,419 shares of the company's stock worth $120,000 after purchasing an additional 1,532 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Price Performance

ADPT stock opened at $13.88 on Friday. Adaptive Biotechnologies Corporation has a 52-week low of $8.50 and a 52-week high of $20.76. The company's 50 day simple moving average is $13.79 and its 200-day simple moving average is $15.62. The firm has a market capitalization of $2.22 billion, a P/E ratio of -42.06 and a beta of 2.16.

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

Analysts Set New Price Targets

A number of research firms recently commented on ADPT. Wall Street Zen downgraded shares of Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. Morgan Stanley dropped their target price on shares of Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. TD Cowen boosted their target price on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Piper Sandler set a $21.00 target price on shares of Adaptive Biotechnologies in a report on Friday, February 6th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and an average price target of $19.57.

Insider Activity

In related news, insider Harlan S. Robins sold 470,266 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $13.17, for a total transaction of $6,193,403.22. Following the transaction, the insider directly owned 1,522,058 shares of the company's stock, valued at approximately $20,045,503.86. The trade was a 23.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Julie Rubinstein sold 141,583 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $13.29, for a total transaction of $1,881,638.07. Following the transaction, the chief operating officer directly owned 516,610 shares in the company, valued at $6,865,746.90. The trade was a 21.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,420,283 shares of company stock valued at $34,193,619 in the last three months. 5.70% of the stock is currently owned by insiders.

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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