D.A. Davidson & CO. Sells 60,300 Shares of Adaptive Biotechnologies Corporation $ADPT

Key Points

• D.A. Davidson & Co. cut its Adaptive Biotechnologies stake by 70.1% in the first quarter, selling 60,300 shares and leaving it with 25,750 shares valued at about $357,000.
• Institutional ownership remains dominant: other investors such as AQR Capital and Arrowstreet Capital increased their positions, and hedge funds and other institutions now own 99.17% of the stock.
• Analyst sentiment is mostly positive, with five Buy ratings, one Hold, and one Sell; the stock’s average target price is $20.83, while shares recently traded around $22.27 after the company beat its last quarterly revenue and EPS estimates.

D.A. Davidson & CO. reduced its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 70.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,750 shares of the company's stock after selling 60,300 shares during the quarter. D.A. Davidson & CO.'s holdings in Adaptive Biotechnologies were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in shares of Adaptive Biotechnologies by 45.8% during 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. boosted its holdings in Adaptive Biotechnologies by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company's stock worth $511,000 after purchasing an additional 2,914 shares during the last quarter. Caxton Associates LLP bought a new stake in Adaptive Biotechnologies in the 1st quarter worth approximately $93,000. New York State Common Retirement Fund grew its position 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 worth $551,000 after purchasing an additional 13,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Adaptive Biotechnologies by 728.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 379,120 shares of the company's stock valued at $4,417,000 after buying an additional 333,379 shares during the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADPT has been the topic of several research analyst reports. BTIG Research reissued a "buy" rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Guggenheim lifted their price objective on Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, June 29th. JPMorgan Chase & Co. reduced their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Finally, TD Cowen reissued a "buy" rating on shares of Adaptive Biotechnologies in a report on Wednesday, July 15th. Five research 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.83.

Insider Transactions at Adaptive Biotechnologies

In other news, COO Julie Rubinstein sold 19,037 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $14.23, for a total value of $270,896.51. Following the transaction, the chief operating officer owned 377,802 shares of the company's stock, valued at $5,376,122.46. This trade represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 11,000 shares of Adaptive Biotechnologies stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $18.00, for a total value of $198,000.00. Following the transaction, the insider directly owned 416,775 shares in the company, valued at approximately $7,501,950. The trade was a 2.57% 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 three months, insiders have sold 832,424 shares of company stock valued at $17,320,824. Company insiders own 5.70% of the company's stock.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $22.27 on Friday. Adaptive Biotechnologies Corporation has a one year low of $9.96 and a one year high of $23.15. The business has a fifty day moving average price of $18.49 and a 200-day moving average price of $16.42. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -67.48 and a beta of 2.07.

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. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The company had revenue of $70.87 million for the quarter, compared to the consensus estimate of $61.03 million. During the same period in the previous year, the business earned ($0.20) earnings per share. Adaptive Biotechnologies's quarterly revenue was up 35.1% compared to the same quarter last year. On average, equities research analysts expect that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current fiscal year.

Adaptive Biotechnologies Company 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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