Lisanti Capital Growth LLC Invests $6.97 Million in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Lisanti Capital Growth acquired 325,155 Adaptive Biotechnologies shares worth approximately $6.97 million, making ADPT 1.5% of its portfolio. Institutional investors collectively own 99.17% of the company.
• Adaptive reported quarterly revenue of $71.55 million, up 21.5% year over year and above estimates, but its loss of $0.25 per share missed expectations. Analysts project a full-year loss of $0.40 per share.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $24.42, although insiders sold more than 2 million shares worth roughly $45.9 million over the past quarter.

Lisanti Capital Growth LLC acquired a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 325,155 shares of the company's stock, valued at approximately $6,975,000. Adaptive Biotechnologies comprises 1.5% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 14th biggest position. Lisanti Capital Growth LLC owned 0.20% of Adaptive Biotechnologies at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ADPT. 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 worth $2,265,000 after purchasing an additional 97,444 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Adaptive Biotechnologies by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company's stock valued at $511,000 after buying an additional 2,914 shares during the period. Caxton Associates LLP acquired a new position in shares of Adaptive Biotechnologies in the 1st quarter valued at about $93,000. New York State Common Retirement Fund grew its position in shares of Adaptive Biotechnologies by 39.2% during the 2nd quarter. New York State Common Retirement Fund now owns 47,258 shares of the company's stock valued at $551,000 after buying an additional 13,300 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of 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. Institutional investors and hedge funds own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $25.49 on Thursday. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -62.17 and a beta of 2.08. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $26.16. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. The company has a 50-day moving average of $21.75 and a 200-day moving average of $17.24.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.12). The company had revenue of $71.55 million during the quarter, compared to analysts' expectations 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 for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) EPS. Analysts forecast that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 321,324 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $25.08, for a total value of $8,058,805.92. Following the transaction, the chief executive officer owned 2,180,518 shares in the company, valued at $54,687,391.44. This represents a 12.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Francis Lo sold 51,004 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.45, for a total transaction of $1,145,039.80. Following the sale, the insider owned 237,688 shares of the company's stock, valued at approximately $5,336,095.60. This represents a 17.67% 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 quarter, insiders have sold 2,031,661 shares of company stock worth $45,910,868. Company insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of research reports. Guggenheim lifted their target price on Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. TD Cowen boosted their price objective on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Morgan Stanley increased their target price on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. cut their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. Finally, Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Adaptive Biotechnologies has an average rating of "Moderate Buy" and an average target price of $24.42.

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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