Legal & General Group Plc Buys 116,454 Shares of Adaptive Biotechnologies Corporation $ADPT

Key Points

• Legal & General Group Plc increased its stake in Adaptive Biotechnologies by 47.4% in the fourth quarter, buying 116,454 additional shares and bringing its total holding to 362,381 shares worth about $5.9 million.
• Adaptive Biotechnologies reported better-than-expected quarterly results, with EPS of -$0.13 versus the -$0.16 estimate and revenue of $70.87 million, up 35.1% from a year earlier.
• Wall Street remains cautiously optimistic, with six Buy ratings among analysts and a consensus Moderate Buy rating, though insiders have recently sold a significant number of shares.

Legal & General Group Plc lifted its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 362,381 shares of the company's stock after buying an additional 116,454 shares during the period. Legal & General Group Plc owned about 0.24% of Adaptive Biotechnologies worth $5,885,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in 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 during the period. Assetmark Inc. lifted its stake in Adaptive Biotechnologies by 867.9% during the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company's stock worth $49,000 after purchasing an additional 2,708 shares during the period. Smartleaf Asset Management LLC lifted its stake in Adaptive Biotechnologies by 593.5% during the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company's stock worth $59,000 after purchasing an additional 3,371 shares during the period. Caxton Associates LLP bought a new position in Adaptive Biotechnologies during the first quarter worth about $93,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Adaptive Biotechnologies by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,419 shares of the company's stock worth $120,000 after purchasing an additional 1,532 shares during the period. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $16.90 on Monday. Adaptive Biotechnologies Corporation has a 1 year low of $9.90 and a 1 year high of $20.76. The firm has a 50 day moving average of $14.17 and a 200-day moving average of $15.62. The stock has a market capitalization of $2.70 billion, a P/E ratio of -51.21 and a beta of 2.15.

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, beating analysts' consensus estimates of ($0.16) by $0.03. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The company had revenue of $70.87 million during the quarter, compared to analysts' expectations of $61.03 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Adaptive Biotechnologies's quarterly revenue was up 35.1% compared to the same quarter last year. As a group, analysts forecast that Adaptive Biotechnologies Corporation will post -0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

ADPT has been the subject of a number of analyst reports. 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. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. BTIG Research restated a "buy" rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, TD Cowen raised their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.57.

Insider Buying and Selling

In other news, insider Susan Bobulsky sold 41,338 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $13.17, for a total value of $544,421.46. Following the completion of the transaction, the insider owned 427,775 shares in the company, valued at approximately $5,633,796.75. The trade was a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Harlan S. Robins sold 470,266 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $13.17, for a total transaction of $6,193,403.22. Following the completion of the transaction, the insider owned 1,522,058 shares of the company's stock, valued at $20,045,503.86. This trade represents a 23.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,740,155 shares of company stock valued at $23,468,600 in the last ninety days. 5.70% of the stock is owned by corporate insiders.

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.

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.