Jupiter Asset Management Ltd. Acquires 91,683 Shares of Adaptive Biotechnologies Corporation $ADPT

Key Points

• Jupiter Asset Management boosted its stake in Adaptive Biotechnologies by 33.8% in the fourth quarter, buying 91,683 additional shares and bringing its total holding to 362,811 shares worth about $5.89 million.
• Institutional ownership remains very high at 99.17%, while insiders have been active sellers recently, including CEO Chad M. Robins and CFO Kyle Piskel.
• Adaptive Biotechnologies reported better-than-expected quarterly results, with EPS of -$0.13 versus a -$0.16 estimate and revenue of $70.87 million, up 35.1% year over year; analysts currently rate the stock a Moderate Buy with a $19.57 consensus target.

Jupiter Asset Management Ltd. raised its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 33.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 362,811 shares of the company's stock after purchasing an additional 91,683 shares during the quarter. Jupiter Asset Management Ltd. owned 0.24% of Adaptive Biotechnologies worth $5,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. California State Teachers Retirement System increased its stake in Adaptive Biotechnologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company's stock valued at $1,145,000 after purchasing an additional 933 shares in the last quarter. Captrust Financial Advisors increased its stake in Adaptive Biotechnologies by 7.6% during the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company's stock valued at $184,000 after purchasing an additional 1,119 shares in the last quarter. Arizona State Retirement System increased its stake in Adaptive Biotechnologies by 3.7% during the 3rd quarter. Arizona State Retirement System now owns 31,443 shares of the company's stock valued at $470,000 after purchasing an additional 1,120 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Adaptive Biotechnologies by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,419 shares of the company's stock valued at $120,000 after purchasing an additional 1,532 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock valued at $38,000 after purchasing an additional 1,565 shares in the last quarter. Institutional investors own 99.17% of the company's stock.

Insider Activity at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 37,263 shares of the business's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $15.19, for a total value of $566,024.97. Following the sale, the chief executive officer directly owned 2,180,518 shares in the company, valued at approximately $33,122,068.42. The trade was a 1.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Piskel sold 3,115 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $13.04, for a total value of $40,619.60. Following the completion of the sale, the chief financial officer owned 256,725 shares in the company, valued at $3,347,694. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 2,237,392 shares of company stock worth $31,269,192. Company insiders own 5.70% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on ADPT shares. JPMorgan Chase & Co. decreased their price target on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. TD Cowen boosted their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Guggenheim restated a "buy" rating and set a $21.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Morgan Stanley decreased their price target on shares of Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Six 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.57.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT opened at $15.15 on Friday. The company's 50-day moving average is $13.92 and its 200 day moving average is $15.55. The company has a market capitalization of $2.42 billion, a P/E ratio of -45.91 and a beta of 2.16. Adaptive Biotechnologies Corporation has a fifty-two week low of $9.05 and a fifty-two week high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. The company had revenue of $70.87 million for the quarter, compared to the consensus estimate of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The firm's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) EPS. As a group, research analysts predict that Adaptive Biotechnologies Corporation will post -0.48 earnings per share for the current 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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