BlackRock Inc. Takes $324.74 Million Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• BlackRock acquired a new 15.1 million-share stake in Adaptive Biotechnologies worth approximately $324.7 million, representing about 9.49% of the company. Institutional investors collectively own 99.17% of ADPT.
• Analyst sentiment is broadly positive: five analysts rate ADPT a Buy, one rates it Hold and one Sell, resulting in a “Moderate Buy” consensus and an average price target of $24.42.
• Adaptive reported quarterly revenue of $71.55 million, up 21.5% year over year and above estimates, but its $0.25 per-share loss exceeded expectations. Meanwhile, insiders sold more than 2 million shares worth $46.7 million over the past three months.

BlackRock Inc. bought a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,139,159 shares of the company's stock, valued at approximately $324,735,000. BlackRock Inc. owned about 9.49% of Adaptive Biotechnologies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ADPT. AQR Capital Management LLC increased its holdings in shares of Adaptive Biotechnologies by 45.8% in the first quarter. AQR Capital Management LLC now owns 310,272 shares of the company's stock valued at $2,265,000 after purchasing an additional 97,444 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Adaptive Biotechnologies by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company's stock valued at $511,000 after buying an additional 2,914 shares during the last quarter. Caxton Associates LLP bought a new position in Adaptive Biotechnologies in the 1st quarter valued at about $93,000. New York State Common Retirement Fund raised its holdings in Adaptive Biotechnologies by 39.2% in the 2nd quarter. New York State Common Retirement Fund now owns 47,258 shares of the company's stock valued at $551,000 after acquiring an additional 13,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Adaptive Biotechnologies by 728.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 379,120 shares of the company's stock worth $4,417,000 after acquiring an additional 333,379 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADPT. JPMorgan Chase & Co. decreased their target price 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Morgan Stanley increased their price objective on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. TD Cowen lifted their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, BTIG Research raised their price target 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. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.42.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $26.16 on Thursday. The stock has a fifty day moving average price of $22.59 and a 200-day moving average price of $17.52. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -63.80 and a beta of 2.08. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. Adaptive Biotechnologies Corporation has a fifty-two week low of $12.00 and a fifty-two week high of $26.51.

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). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The company had revenue of $71.55 million during the quarter, compared to analyst estimates of $65.44 million. During the same period last year, the firm earned ($0.17) EPS. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, Director Robert Hershberg sold 30,664 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $24.40, for a total value of $748,201.60. Following the transaction, the director directly owned 46,683 shares of the company's stock, valued at $1,139,065.20. This trade represents a 39.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $75,000.00. Following the sale, the insider owned 396,989 shares of the company's stock, valued at $9,924,725. The trade was a 0.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,062,325 shares of company stock worth $46,659,069 in the last three months. Company insiders own 5.70% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source