Bank of America Corp DE Acquires 421,645 Shares of Adaptive Biotechnologies Corporation $ADPT

Key Points

• Bank of America increased its Adaptive Biotechnologies stake by 52.3% in the first quarter, acquiring 421,645 shares and bringing its holdings to 1.23 million shares, worth about $17 million. Institutional investors collectively own 99.17% of the company.
• Adaptive reported 21.5% year-over-year revenue growth to $71.55 million, beating estimates, but missed quarterly EPS expectations with a loss of $0.25 per share versus the projected $0.13 loss. Analysts expect the company to remain unprofitable this year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $24.42, although multiple insiders sold substantial shareholdings recently, potentially raising investor-confidence concerns.

Bank of America Corp DE raised its holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 52.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,227,917 shares of the company's stock after acquiring an additional 421,645 shares during the quarter. Bank of America Corp DE owned about 0.77% of Adaptive Biotechnologies worth $17,043,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 1,565 shares during the period. Assetmark Inc. lifted its stake in shares of Adaptive Biotechnologies by 867.9% in the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company's stock worth $49,000 after buying an additional 2,708 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth $51,000. Finally, Strive Financial Group LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth $52,000. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Trading Down 0.2%

Shares of ADPT opened at $25.44 on Friday. The stock's 50-day moving average price is $21.89 and its 200 day moving average price is $17.28. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -62.05 and a beta of 2.08. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $26.16.

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

Wall Street Analyst Weigh In

ADPT has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Piper Sandler boosted their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Morgan Stanley upped their price target on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. lowered their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. Finally, Guggenheim lifted their price objective on Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.42.

Insiders Place Their Bets

In related news, insider Harlan S. Robins sold 492,400 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $21.89, for a total transaction of $10,778,636.00. Following the completion of the transaction, the insider directly owned 812,058 shares of the company's stock, valued at $17,775,949.62. This trade represents a 37.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter M. Neupert sold 124,690 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $25.15, for a total transaction of $3,135,953.50. Following the sale, the director directly owned 130,625 shares in the company, valued at $3,285,218.75. This represents a 48.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,062,325 shares of company stock worth $46,659,069 over the last quarter. Corporate insiders own 5.70% of the company's stock.

Key Adaptive Biotechnologies News

Here are the key news stories impacting Adaptive Biotechnologies this week:

• Positive Sentiment: Analysts maintain a broadly constructive view, with five Buy ratings, one Hold and one Sell. BTIG Research and TD Cowen recently raised their price targets to $25 and $28, respectively, while the consensus rating remains “Moderate Buy.” Analyst and stock information
• Positive Sentiment: Institutional ownership remains high at 99.17%, and several hedge funds increased their positions, including Jennison Associates, which more than doubled its stake. Institutional ownership information
• Positive Sentiment: The company’s latest quarterly revenue reached $71.55 million, exceeding estimates of $65.44 million and increasing 21.5% year over year, supporting the growth case for its immune-receptor sequencing business. Quarterly results
• Neutral Sentiment: ADPT has rallied substantially, trading near its 52-week high and above both its 50-day and 200-day moving averages. However, the consensus price target of $24.42 is below recently reported trading levels, suggesting limited near-term upside based on current estimates.
• Negative Sentiment: Multiple insiders sold substantial positions: CEO Chad Robins sold approximately 600,000 shares for nearly $14.9 million across August 17–18, while Director Peter Neupert sold 124,690 shares for $3.14 million and Director Robert Hershberg sold 30,664 shares for $748,000. The transactions reduced the directors’ holdings by roughly 40%–49% and the CEO’s ownership by about 11%–13%, potentially weighing on investor confidence. Insider selling report
• Negative Sentiment: Adaptive Biotechnologies missed quarterly EPS expectations, reporting a loss of $0.25 per share versus the anticipated loss of $0.13. The company remains unprofitable, with analysts expecting a full-year loss of approximately $0.40 per share.

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.

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.

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