Adaptive Biotechnologies Corporation $ADPT Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. reduced its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 46.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,947,963 shares of the company's stock after selling 1,702,683 shares during the period. Amova Asset Management Americas Inc. owned 1.28% of Adaptive Biotechnologies worth $31,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADPT. Westfield Capital Management Co. LP acquired a new position in Adaptive Biotechnologies in the fourth quarter valued at approximately $65,942,000. Ameriprise Financial Inc. boosted its stake in Adaptive Biotechnologies by 84.3% in the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock valued at $89,337,000 after acquiring an additional 2,731,648 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Adaptive Biotechnologies by 544.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company's stock valued at $36,523,000 after acquiring an additional 2,062,282 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in shares of Adaptive Biotechnologies during the fourth quarter worth approximately $26,801,000. Finally, Jennison Associates LLC boosted 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 worth $43,437,000 after buying an additional 1,363,181 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

ADPT opened at $17.36 on Wednesday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -52.61 and a beta of 2.15. Adaptive Biotechnologies Corporation has a 1-year low of $9.90 and a 1-year high of $20.76. The business has a 50 day moving average price of $14.32 and a two-hundred day moving average price of $15.66.

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

Insider Activity

In other Adaptive Biotechnologies news, insider Susan Bobulsky sold 11,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $18.00, for a total transaction of $198,000.00. Following the sale, the insider directly owned 416,775 shares of the company's stock, valued at $7,501,950. The trade was a 2.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Piskel sold 3,115 shares of the business's stock in a transaction on Monday, May 18th. The shares were 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 in the company, valued at approximately $3,347,694. This trade represents a 1.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 535,714 shares of company stock valued at $7,756,708 in the last 90 days. Company insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADPT. Wall Street Zen downgraded Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. TD Cowen boosted their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. BTIG Research reiterated a "buy" rating and set a $22.00 price objective on shares of Adaptive Biotechnologies in a research report on Wednesday, May 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Six equities 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. According to data from MarketBeat, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and an average price target of $19.57.

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.