Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Connor Clark & Lunn acquired 785,903 shares of Adaptive Biotechnologies in the second quarter, valued at approximately $16.9 million and representing a 0.49% stake. Institutional investors collectively own 99.17% of the company.
• Insiders sold more than 2.06 million shares worth approximately $46.7 million over the past 90 days, including a large sale by insider Harlan S. Robins under a Rule 10b5-1 plan.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $24.42. ADPT shares recently traded at $26.25 after revenue rose 21.5% year over year, although the company missed quarterly EPS expectations.

Connor Clark & Lunn Investment Management Ltd. bought a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 785,903 shares of the company's stock, valued at approximately $16,858,000. Connor Clark & Lunn Investment Management Ltd. owned 0.49% of Adaptive Biotechnologies as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at about $28,000. Allworth Financial LP bought a new position in shares of Adaptive Biotechnologies in the second quarter worth about $35,000. EverSource Wealth Advisors LLC grew its position in shares of Adaptive Biotechnologies by 197.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock worth $38,000 after purchasing an additional 1,565 shares in the last quarter. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth about $45,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Adaptive Biotechnologies during the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Harlan S. Robins sold 492,400 shares of the firm's stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $21.89, for a total value 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 approximately $17,775,949.62. This trade represents a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 3,000 shares of the business'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 owned 396,989 shares in the company, valued at $9,924,725. This represents a 0.75% 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 ninety days, insiders sold 2,062,325 shares of company stock worth $46,659,069. Company insiders own 5.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ADPT shares. Morgan Stanley boosted their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. JPMorgan Chase & Co. reduced their price objective on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Guggenheim upped their target price on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of "Moderate Buy" and an average price target of $24.42.

Adaptive Biotechnologies Trading Up 2.7%

Shares of ADPT stock opened at $26.25 on Wednesday. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -64.02 and a beta of 2.08. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $26.49. The stock's 50-day moving average price is $22.40 and its 200-day moving average price is $17.45.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced 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 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%. Adaptive Biotechnologies's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. Equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal 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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