Next Century Growth Investors LLC Purchases 412,280 Shares of Adaptive Biotechnologies Corporation $ADPT

Key Points

• Next Century Growth Investors boosted its stake in Adaptive Biotechnologies by 77.6% in Q4, buying 412,280 more shares and bringing its total holding to 943,597 shares worth about $15.3 million.
• Several other institutional investors also increased or initiated positions, and institutions now own 99.17% of the company’s stock, indicating heavy institutional interest.
• Adaptive Biotechnologies recently beat earnings and revenue expectations, reporting a smaller-than-expected loss and 35.1% year-over-year revenue growth, while analysts currently rate the stock a Moderate Buy with an average target price of $19.57.

Next Century Growth Investors LLC raised its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 77.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 943,597 shares of the company's stock after acquiring an additional 412,280 shares during the period. Next Century Growth Investors LLC owned approximately 0.62% of Adaptive Biotechnologies worth $15,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ADPT. Westfield Capital Management Co. LP bought a new position in Adaptive Biotechnologies during the fourth quarter valued at $65,942,000. Ameriprise Financial Inc. increased its position in Adaptive Biotechnologies by 84.3% during the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock valued at $89,337,000 after acquiring an additional 2,731,648 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Adaptive Biotechnologies by 544.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company's stock valued at $36,523,000 after acquiring an additional 2,062,282 shares during the last quarter. Lord Abbett & CO. LLC increased its position in Adaptive Biotechnologies by 151.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 3,080,759 shares of the company's stock valued at $50,032,000 after acquiring an additional 1,854,355 shares during the last quarter. Finally, PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in Adaptive Biotechnologies during the fourth quarter valued at $26,801,000. Institutional investors own 99.17% of the company's stock.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. Morgan Stanley cut their price target on shares of Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. BTIG Research restated a "buy" rating and issued a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. Finally, Guggenheim restated a "buy" rating and issued a $21.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.57.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, CFO Kyle Piskel sold 3,115 shares of the company'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 directly owned 256,725 shares of the company's stock, valued at $3,347,694. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Francis Lo sold 39,741 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $17.49, for a total transaction 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. This trade represents a 13.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 516,654 shares of company stock valued at $7,509,691 in the last ninety days. 5.70% of the stock is owned by insiders.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $17.60 on Friday. Adaptive Biotechnologies Corporation has a 1-year low of $9.90 and a 1-year high of $20.76. The company has a 50-day moving average of $14.57 and a 200 day moving average of $15.68. The firm has a market cap of $2.82 billion, a PE ratio of -53.33 and a beta of 2.15.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data 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. 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 analyst estimates of $61.03 million. During the same period in the prior year, the firm earned ($0.20) earnings per share. The firm's revenue for the quarter was up 35.1% compared to the same quarter last year. Sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current fiscal year.

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.

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