The Manufacturers Life Insurance Company Takes $2.50 Million Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• The Manufacturers Life Insurance Company acquired 116,722 shares of Adaptive Biotechnologies worth approximately $2.5 million, while other institutions also initiated positions. Institutional investors now own 99.17% of the company.
• Company insiders have sold more than 2 million shares valued at approximately $45.8 million over the past quarter, including significant sales by insider Harlan S. Robins and director Robert Hershberg.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $24.42. ADPT shares opened at $24.66, while the company’s latest quarter showed 21.5% year-over-year revenue growth but a larger-than-expected loss per share.

The Manufacturers Life Insurance Company acquired a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 116,722 shares of the company's stock, valued at approximately $2,504,000. The Manufacturers Life Insurance Company owned 0.07% of Adaptive Biotechnologies at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ADPT. Sanctuary Advisors LLC acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at approximately $202,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Adaptive Biotechnologies during the 2nd quarter worth approximately $16,858,000. Quantbot Technologies LP bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth approximately $295,000. EP Wealth Advisors LLC acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at approximately $2,669,000. Finally, Allworth Financial LP acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at approximately $35,000. 99.17% of the stock is currently owned by institutional investors.

Insider Transactions at Adaptive Biotechnologies

In other news, insider Harlan S. Robins sold 492,400 shares of the company's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $21.89, for a total value of $10,778,636.00. Following the sale, the insider directly owned 812,058 shares of the company's stock, valued at approximately $17,775,949.62. This represents a 37.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Hershberg sold 30,664 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $24.40, for a total value of $748,201.60. Following the transaction, the director owned 46,683 shares of the company's stock, valued at $1,139,065.20. The trade was a 39.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,011,584 shares of company stock valued at $45,765,999. 5.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADPT shares. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. lowered their price target on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. TD Cowen boosted their price target on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Guggenheim increased their price objective on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Piper Sandler increased their price objective on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.42.

Adaptive Biotechnologies Trading Up 1.3%

Shares of Adaptive Biotechnologies stock opened at $24.66 on Thursday. The stock has a market cap of $3.94 billion, a P/E ratio of -60.15 and a beta of 2.09. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $26.87. The business's 50 day moving average is $23.32 and its 200-day moving average is $17.85.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The firm had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. Adaptive Biotechnologies's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. Equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.4 earnings per share 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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