Kennedy Capital Management LLC Trims Holdings in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Kennedy Capital Management cut its Adaptive Biotechnologies stake by 29.3% in the fourth quarter, selling 373,415 shares and leaving it with 900,231 shares valued at about $14.6 million.
• Several other institutional investors were active in the stock, while hedge funds and other institutions still own a dominant 99.17% of Adaptive Biotechnologies shares.
• The company beat expectations in its latest quarterly report, posting an EPS loss of ($0.13) versus the expected ($0.16) and revenue of $70.87 million, up 35.1% year over year; analysts currently have a Moderate Buy consensus with an average target price of $19.57.

Kennedy Capital Management LLC decreased its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 900,231 shares of the company's stock after selling 373,415 shares during the quarter. Kennedy Capital Management LLC owned about 0.59% of Adaptive Biotechnologies worth $14,620,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in Adaptive Biotechnologies during the fourth quarter worth approximately $1,824,000. Walleye Capital LLC lifted its position in Adaptive Biotechnologies by 5.7% during the fourth quarter. Walleye Capital LLC now owns 95,324 shares of the company's stock worth $1,548,000 after buying an additional 5,138 shares in the last quarter. Bridgewater Associates LP lifted its position in Adaptive Biotechnologies by 75.5% during the fourth quarter. Bridgewater Associates LP now owns 265,491 shares of the company's stock worth $4,312,000 after buying an additional 114,237 shares in the last quarter. Headlands Technologies LLC purchased a new position in Adaptive Biotechnologies during the fourth quarter worth approximately $896,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Adaptive Biotechnologies by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,173,535 shares of the company's stock worth $19,058,000 after buying an additional 20,974 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Insider Transactions at Adaptive Biotechnologies

In other news, insider Francis Lo sold 39,741 shares of Adaptive Biotechnologies 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 completion of the sale, the insider directly owned 250,934 shares of the company's stock, valued at approximately $4,388,835.66. The trade was a 13.67% decrease in their ownership of the stock. The sale was disclosed in a filing 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 11,000 shares of Adaptive Biotechnologies stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $18.00, for a total value of $198,000.00. Following the completion of the sale, the insider directly owned 416,775 shares of the company's stock, valued at $7,501,950. The trade was a 2.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 497,594 shares of company stock valued at $7,254,096. Corporate insiders own 5.70% of the company's stock.

Adaptive Biotechnologies Price Performance

ADPT stock opened at $17.60 on Monday. The business has a fifty day moving average of $14.57 and a two-hundred day moving average of $15.65. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -53.33 and a beta of 2.16. Adaptive Biotechnologies Corporation has a 52-week low of $9.90 and a 52-week high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The company 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 quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.20) earnings per share. As a group, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ADPT shares. BTIG Research reiterated a "buy" rating and set a $22.00 price objective on shares of Adaptive Biotechnologies in a research report on Wednesday, May 6th. TD Cowen raised their target price on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. JPMorgan Chase & Co. cut their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Six 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.