Capricorn Fund Managers Ltd Makes New $17.93 Million Investment in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Capricorn Fund Managers Ltd opened a new position in Adaptive Biotechnologies, buying 1.29 million shares worth about $17.93 million. The stake represented roughly 0.84% of the company and 2.8% of Capricorn’s holdings.
• Adaptive Biotechnologies reported quarterly results that beat Wall Street estimates, with EPS of -$0.13 versus -$0.16 expected and revenue of $70.87 million versus $61.03 million projected. Revenue also rose 35.1% year over year.
• Despite the upbeat results, insiders sold shares during the quarter, including CEO Chad M. Robins and COO Julie Rubinstein. Analysts remain split but overall rate the stock Moderate Buy with a consensus price target of $20.50.

Capricorn Fund Managers Ltd bought a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,291,773 shares of the company's stock, valued at approximately $17,930,000. Adaptive Biotechnologies makes up approximately 2.8% of Capricorn Fund Managers Ltd's holdings, making the stock its 8th biggest holding. Capricorn Fund Managers Ltd owned approximately 0.84% of Adaptive Biotechnologies at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Peregrine Capital Management LLC grew its holdings in Adaptive Biotechnologies by 7.5% during the 1st quarter. Peregrine Capital Management LLC now owns 486,641 shares of the company's stock worth $6,755,000 after acquiring an additional 34,139 shares during the last quarter. 1492 Capital Management LLC grew its stake in shares of Adaptive Biotechnologies by 207.6% during the first quarter. 1492 Capital Management LLC now owns 281,096 shares of the company's stock valued at $3,902,000 after purchasing an additional 189,721 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies in the first quarter valued at approximately $202,000. SG Americas Securities LLC increased its holdings in shares of Adaptive Biotechnologies by 37.8% in the first quarter. SG Americas Securities LLC now owns 137,758 shares of the company's stock valued at $1,912,000 after purchasing an additional 37,823 shares in the last quarter. Finally, Diversified Trust Co raised its position in Adaptive Biotechnologies by 8.5% in the 1st quarter. Diversified Trust Co now owns 45,776 shares of the company's stock worth $635,000 after purchasing an additional 3,576 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Stock Up 0.2%

Shares of Adaptive Biotechnologies stock opened at $21.45 on Wednesday. Adaptive Biotechnologies Corporation has a 12 month low of $9.96 and a 12 month high of $21.64. The business has a fifty day simple moving average of $15.66 and a 200 day simple moving average of $15.74. The stock has a market cap of $3.43 billion, a PE ratio of -65.00 and a beta of 2.15.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ADPT shares. Morgan Stanley decreased their price objective on Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. Wall Street Zen lowered Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. decreased their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Finally, Guggenheim lifted their price objective on Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday. 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

Insider Activity at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 83,332 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $14.41, for a total value of $1,200,814.12. Following the completion of the transaction, the chief executive officer owned 2,217,781 shares of the company's stock, valued at $31,958,224.21. The trade was a 3.62% decrease in their position. The sale was disclosed in a 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, COO Julie Rubinstein sold 30,941 shares of the business's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $14.83, for a total value of $458,855.03. Following the completion of the transaction, the chief operating officer directly owned 434,188 shares of the company's stock, valued at approximately $6,439,008.04. The trade was a 6.65% 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. Over the last quarter, insiders sold 698,316 shares of company stock valued at $11,655,488. 5.70% of the stock is owned by corporate insiders.

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.

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