Dimensional Fund Advisors LP Cuts Stock Holdings in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Dimensional Fund Advisors cut its Adaptive Biotechnologies stake by 86.4% during the first quarter, selling 1.19 million shares and retaining 188,338 shares valued at approximately $2.6 million. Institutional investors still own 99.17% of ADPT.
• Adaptive Biotechnologies reported quarterly revenue of $71.55 million, up 21.5% year over year, but its $0.25 loss per share missed the $0.13 consensus estimate.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $24.42; recent targets range from $25 to $28, while insiders sold more than 1.31 million shares worth $27.9 million over the past 90 days.

Dimensional Fund Advisors LP lowered its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 86.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,338 shares of the company's stock after selling 1,194,586 shares during the quarter. Dimensional Fund Advisors LP owned 0.12% of Adaptive Biotechnologies worth $2,614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ADPT. 1492 Capital Management LLC bought a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at about $1,484,000. Jupiter Asset Management Ltd. lifted its stake in Adaptive Biotechnologies by 33.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 362,811 shares of the company's stock valued at $5,892,000 after purchasing an additional 91,683 shares during the last quarter. Rhenman & Partners Asset Management AB grew its stake in shares of Adaptive Biotechnologies by 22.2% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 605,000 shares of the company's stock worth $9,825,000 after acquiring an additional 110,000 shares during the period. Westfield Capital Management Co. LP bought a new position in Adaptive Biotechnologies during the fourth quarter worth about $65,942,000. Finally, Jennison Associates LLC grew its stake in Adaptive Biotechnologies by 103.9% in the 4th quarter. Jennison Associates LLC now owns 2,674,668 shares of the company's stock valued at $43,437,000 after buying an additional 1,363,181 shares in the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Stock Down 3.1%

Shares of Adaptive Biotechnologies stock opened at $24.46 on Friday. The company has a 50-day moving average of $21.12 and a 200 day moving average of $17.06. Adaptive Biotechnologies Corporation has a 1 year low of $11.92 and a 1 year high of $26.16. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -59.66 and a beta of 2.08. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The company had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The company's revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler lifted their target price on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Morgan Stanley upped their price objective on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. TD Cowen raised their price target on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a research 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 report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.42.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, insider Sharon Benzeno sold 154,768 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the completion of the sale, the insider directly owned 221,278 shares of the company's stock, valued at approximately $4,677,816.92. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 44,838 shares of the company's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $22.59, for a total value of $1,012,890.42. Following the completion of the sale, the insider owned 230,713 shares of the company's stock, valued at $5,211,806.67. This trade represents a 16.27% 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 sold a total of 1,310,086 shares of company stock worth $27,934,739 in the last 90 days. 5.70% of the stock is currently owned by company 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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