Algert Global LLC Has $2.83 Million Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Algert Global cut its Adaptive Biotechnologies stake by 63.7% in the second quarter, selling 230,880 shares and retaining a position worth approximately $2.83 million. Institutional investors collectively own 99.17% of the company.
• Adaptive reported quarterly revenue of $71.55 million, up 21.5% year over year, but its $0.25 per-share loss was wider than analysts’ expected $0.13 loss. Analysts expect a full-year loss of approximately $0.40 per share.
• Insider selling has been significant, including CEO Chad M. Robins’ sale of 278,676 shares for about $6.82 million; insiders sold more than 2 million shares worth $46.66 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus with an average price target of $24.42.

Algert Global LLC decreased its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 63.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 131,830 shares of the company's stock after selling 230,880 shares during the quarter. Algert Global LLC owned 0.08% of Adaptive Biotechnologies worth $2,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Adaptive Biotechnologies in the fourth quarter valued at about $28,000. Allworth Financial LP acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth approximately $35,000. EverSource Wealth Advisors LLC raised its stake in shares of Adaptive Biotechnologies by 197.1% in the fourth 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. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $45,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 99.17% of the company's stock.

Insiders Place Their Bets

In other news, insider Susan Bobulsky sold 3,000 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the sale, the insider directly owned 396,989 shares in the company, valued at approximately $9,924,725. This represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Chad M. Robins sold 278,676 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $24.48, for a total transaction of $6,821,988.48. Following the sale, the chief executive officer directly owned 2,180,518 shares of the company's stock, valued at approximately $53,379,080.64. This trade represents a 11.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,062,325 shares of company stock worth $46,659,069. 5.70% of the stock is currently owned by insiders.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT opened at $25.19 on Friday. 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 has a 50 day moving average price of $22.92 and a 200 day moving average price of $17.65. The stock has a market capitalization of $4.02 billion, a PE ratio of -61.44 and a beta of 2.08. Adaptive Biotechnologies Corporation has a 52 week low of $12.00 and a 52 week high of $26.87.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADPT. Weiss Ratings reiterated 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 stock a "buy" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. reduced their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Piper Sandler raised their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Finally, Guggenheim raised their target price on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Adaptive Biotechnologies currently has a consensus rating of "Moderate Buy" and an average target price of $24.42.

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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