M&T Bank Corp Takes Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• M&T Bank Corp bought a new stake of 189,903 shares of Adaptive Biotechnologies in Q4, valued at approximately $3.08 million and representing about 0.12% ownership.
• Company insiders have been net sellers: CEO Chad M. Robins sold 470,167 shares for about $6.19 million, and insiders sold a total of 2,568,062 shares (~$37.03 million) in the past three months, leaving insiders with 6.4% ownership.
• Adaptive posted better-than-expected Q results (EPS -$0.09 vs. -$0.19 est.; revenue $71.68M vs. $59.38M, up 51% Y/Y) and carries a consensus rating of "Moderate Buy" with an average target of $18.25 (several firms raised targets to $21–$22).

M&T Bank Corp bought a new stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 189,903 shares of the company's stock, valued at approximately $3,084,000. M&T Bank Corp owned 0.12% of Adaptive Biotechnologies at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Adaptive Biotechnologies by 867.9% during the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company's stock valued at $49,000 after purchasing an additional 2,708 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Adaptive Biotechnologies by 593.5% during the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company's stock valued at $59,000 after purchasing an additional 3,371 shares during the period. Caxton Associates LLP purchased a new stake in shares of Adaptive Biotechnologies during the first quarter valued at $93,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 valued at $120,000 after purchasing an additional 1,532 shares during the period. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Adaptive Biotechnologies during the third quarter valued at $133,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADPT has been the subject of a number of research reports. Piper Sandler set a $21.00 price objective on shares of Adaptive Biotechnologies in a research note on Friday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. TD Cowen reaffirmed a "buy" rating on shares of Adaptive Biotechnologies in a research note on Friday, February 6th. Wall Street Zen lowered shares of Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, February 6th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.25.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $14.21 on Tuesday. Adaptive Biotechnologies Corporation has a 1-year low of $7.16 and a 1-year high of $20.76. The company has a 50-day moving average of $14.47 and a 200 day moving average of $15.98. The firm has a market cap of $2.19 billion, a PE ratio of -35.52 and a beta of 2.29.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.10. The business had revenue of $71.68 million during the quarter, compared to the consensus estimate of $59.38 million. Adaptive Biotechnologies had a negative net margin of 21.48% and a negative return on equity of 46.68%. The firm's revenue was up 51.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) earnings per share. Sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 470,167 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $13.17, for a total value of $6,192,099.39. Following the completion of the transaction, the chief executive officer directly owned 2,301,113 shares in the company, valued at approximately $30,305,658.21. The trade was a 16.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sharon Benzeno sold 63,103 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $13.17, for a total transaction of $831,066.51. Following the completion of the transaction, the insider owned 272,751 shares of the company's stock, valued at $3,592,130.67. This represents a 18.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,568,062 shares of company stock valued at $37,025,768 in the last three months. 6.40% of the stock is currently owned by insiders.

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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