Adaptive Biotechnologies Corporation $ADPT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Adaptive Biotechnologies stake by 18.1% in the first quarter, selling 352,593 shares and ending with 1.595 million shares worth about $22.1 million.
• Wall Street sentiment is mixed but mostly positive: the stock has a Moderate Buy consensus, with five Buy ratings, one Hold, and one Sell, and an average target price of $20.83.
• Adaptive Biotechnologies reported better-than-expected quarterly results, with EPS of -$0.13 versus -$0.16 expected and revenue of $70.87 million, up 35.1% year over year; however, insiders also sold a significant amount of stock last quarter.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 18.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,595,370 shares of the company's stock after selling 352,593 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.04% of Adaptive Biotechnologies worth $22,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock valued at $38,000 after acquiring an additional 1,565 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Adaptive Biotechnologies by 867.9% during 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 during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $51,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $52,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Cowen lifted their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Morgan Stanley raised their price target on Adaptive Biotechnologies from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Thursday. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. Guggenheim increased their price objective on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and an average target price of $20.83.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, insider Susan Bobulsky sold 5,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $19.00, for a total value of $95,000.00. Following the completion of the sale, the insider owned 411,775 shares of the company's stock, valued at $7,823,725. This 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sharon Benzeno sold 154,768 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the completion of the transaction, the insider directly owned 221,278 shares in the company, valued at approximately $4,677,816.92. This represents a 41.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 939,605 shares of company stock worth $18,858,552 in the last quarter. Company insiders own 5.70% of the company's stock.

Adaptive Biotechnologies Trading Down 0.2%

Shares of ADPT opened at $21.02 on Tuesday. Adaptive Biotechnologies Corporation has a twelve month low of $9.96 and a twelve month high of $22.80. The firm has a market capitalization of $3.36 billion, a P/E ratio of -63.70 and a beta of 2.07. The stock's fifty day simple moving average is $16.94 and its 200 day simple moving average is $16.05.

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 analysts' consensus estimates of ($0.16) by $0.03. The firm had revenue of $70.87 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.20) earnings per share. Sell-side analysts predict that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current year.

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.

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