Victory Capital Management Inc. Reduces Stake in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Victory Capital Management cut its stake in Adaptive Biotechnologies by 26.8% in Q3, selling 456,627 shares and finishing the quarter with 1,246,573 shares (~0.82% ownership) worth about $18.65 million.
• Adaptive Biotechnologies beat expectations for the quarter, reporting EPS of ($0.09) vs. ($0.19) est. and revenue of $71.68M (vs. $59.38M est.), a 51% year‑over‑year revenue increase; the company has a market cap of roughly $2.24B.
• There has been notable insider selling (1,209,806 shares worth ~$19.66M in the last quarter) despite very high institutional ownership (99.17%), while analysts hold a consensus "Moderate Buy" with a ~$18.25 target and several $21 price targets.

Victory Capital Management Inc. lowered its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 26.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,246,573 shares of the company's stock after selling 456,627 shares during the quarter. Victory Capital Management Inc. owned approximately 0.82% of Adaptive Biotechnologies worth $18,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sound Income Strategies LLC bought a new position in shares of Adaptive Biotechnologies in the third quarter valued at approximately $30,000. Smartleaf Asset Management LLC increased its holdings in Adaptive Biotechnologies by 593.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company's stock worth $59,000 after acquiring an additional 3,371 shares during the period. Keybank National Association OH bought a new stake in Adaptive Biotechnologies during the 3rd quarter worth approximately $155,000. Caprock Group LLC purchased a new stake in Adaptive Biotechnologies in the 3rd quarter worth approximately $163,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $134,000. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $14.52 on Wednesday. Adaptive Biotechnologies Corporation has a 52-week low of $6.26 and a 52-week high of $20.76. The company has a fifty day moving average of $16.72 and a 200-day moving average of $15.88. The company has a market capitalization of $2.24 billion, a P/E ratio of -36.30 and a beta of 2.19.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.10. Adaptive Biotechnologies had a negative return on equity of 46.68% and a negative net margin of 21.48%.The business had revenue of $71.68 million for the quarter, compared to analysts' expectations of $59.38 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The firm's revenue was up 51.0% on a year-over-year basis. As a group, analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In related news, COO Julie Rubinstein sold 30,941 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $16.00, for a total value of $495,056.00. Following the completion of the sale, the chief operating officer owned 652,147 shares in the company, valued at $10,434,352. The trade was a 4.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Francis Lo sold 113,890 shares of the company's stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $15.57, for a total value of $1,773,267.30. Following the completion of the sale, the insider directly owned 315,978 shares of the company's stock, valued at approximately $4,919,777.46. This represents a 26.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,209,806 shares of company stock valued at $19,656,239. 6.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADPT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Friday, February 6th. Morgan Stanley began coverage on Adaptive Biotechnologies in a research note on Monday, December 1st. They set an "equal weight" rating and a $21.00 price objective for the company. Piper Sandler set a $21.00 target price on Adaptive Biotechnologies in a research report on Friday, February 6th. TD Cowen restated a "buy" rating on shares of Adaptive Biotechnologies in a research note on Friday, February 6th. Finally, Wall Street Zen downgraded Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a research report on Saturday. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and a consensus target price of $18.25.

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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