Catalio Capital Management LP Trims Stake in Adaptive Biotechnologies Corporation $ADPT

Catalio Capital Management LP reduced its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 821,195 shares of the company's stock after selling 63,695 shares during the quarter. Adaptive Biotechnologies accounts for 2.5% of Catalio Capital Management LP's holdings, making the stock its 16th largest position. Catalio Capital Management LP owned approximately 0.54% of Adaptive Biotechnologies worth $13,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in Adaptive Biotechnologies by 84.3% during the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock valued at $89,337,000 after acquiring an additional 2,731,648 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Adaptive Biotechnologies by 303.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company's stock valued at $71,252,000 after buying an additional 3,299,635 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $65,942,000. Geode Capital Management LLC increased its position in shares of Adaptive Biotechnologies by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company's stock valued at $57,041,000 after buying an additional 110,825 shares in the last quarter. Finally, State Street Corp increased its position in shares of Adaptive Biotechnologies by 3.3% in the fourth quarter. State Street Corp now owns 3,181,644 shares of the company's stock valued at $51,670,000 after buying an additional 102,362 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 30,941 shares of the business's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $14.83, for a total transaction of $458,855.03. Following the transaction, the chief operating officer 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 39,741 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $17.49, for a total value of $695,070.09. Following the transaction, the insider directly owned 250,934 shares in the company, valued at $4,388,835.66. This trade represents a 13.67% decrease in their position. 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 three months, insiders sold 589,694 shares of company stock worth $8,945,827. 5.70% of the stock is currently owned by corporate insiders.

Key Adaptive Biotechnologies News

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

• Negative Sentiment: Adaptive Biotechnologies priced an upsized $300 million offering of 0% convertible senior notes due 2031, which raises fresh capital but also signals potential dilution risk and added complexity for shareholders. The company plans to use the proceeds to repay the OrbiMed Purchase Agreement, fund capped call transactions, and repurchase $25 million of stock to help offset dilution. Article Title
• Negative Sentiment: Multiple insider sales were disclosed, including Chief Scientific Officer Harlan S. Robins selling 100,000 shares and another 6,160 shares under a 10b5-1 plan. While pre-planned, the volume of insider selling may reinforce caution around the stock. Article Title
• Neutral Sentiment: BTIG Research reaffirmed its Buy rating and kept a $22 price target, suggesting analysts still see meaningful upside from current levels. Article Title
• Neutral Sentiment: The company’s recent earnings trend remains supportive, with Q1 revenue up 35.1% year over year and results beating expectations, which helps offset some of the financing-related concerns.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ADPT shares. Morgan Stanley cut their price objective on Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. TD Cowen boosted 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. Wall Street Zen cut Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Guggenheim reiterated a "buy" rating and set a $21.00 price target on shares of Adaptive Biotechnologies in a research report on Wednesday, May 6th. Finally, BTIG Research reiterated a "buy" rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.33.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $16.78 on Thursday. Adaptive Biotechnologies Corporation has a one year low of $9.96 and a one year high of $20.76. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -50.85 and a beta of 2.15. The stock has a 50 day moving average price of $14.72 and a 200 day moving average price of $15.59.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $70.87 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) earnings per share. On average, analysts predict that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current year.

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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