Wellington Management Group LLP Has $126.80 Million Stake in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Wellington Management increased its Adaptive Biotechnologies stake by 53.2% in the second quarter, bringing its holdings to 5.91 million shares worth approximately $126.8 million. Institutional investors collectively own 99.17% of the company.
• Analyst sentiment is generally positive, with five Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $24.42. However, Adaptive missed quarterly EPS estimates despite reporting 21.5% year-over-year revenue growth.
• Insiders have been selling shares, including CEO Chad M. Robins, who sold $8.06 million worth of stock; insiders sold $46.66 million in shares over the past 90 days. ADPT opened at $24.34, near its 52-week high of $26.87.

Wellington Management Group LLP lifted its holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 53.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,911,366 shares of the company's stock after acquiring an additional 2,053,944 shares during the quarter. Wellington Management Group LLP owned approximately 3.70% of Adaptive Biotechnologies worth $126,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Adaptive Biotechnologies in the second quarter worth $37,109,000. Freestone Grove Partners LP bought a new position in shares of Adaptive Biotechnologies in the second quarter valued at about $18,912,000. Odyssean LLC raised its holdings in shares of Adaptive Biotechnologies by 320.1% in the second quarter. Odyssean LLC now owns 67,709 shares of the company's stock valued at $1,452,000 after buying an additional 51,592 shares during the last quarter. Man Group plc acquired a new position in Adaptive Biotechnologies during the 2nd quarter worth about $1,972,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Adaptive Biotechnologies during the 2nd quarter worth about $5,847,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADPT has been the topic of several research reports. Piper Sandler upped their price objective on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. dropped their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. BTIG Research upped their price target on Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Finally, Morgan Stanley lifted their price objective 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. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.42.

Insider Activity at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 321,324 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $25.08, for a total transaction of $8,058,805.92. Following the completion of the transaction, the chief executive officer directly owned 2,180,518 shares in the company, valued at approximately $54,687,391.44. This trade represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francis Lo sold 51,004 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.45, for a total value of $1,145,039.80. Following the completion of the sale, the insider owned 237,688 shares in the company, valued at $5,336,095.60. The trade was a 17.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,062,325 shares of company stock valued at $46,659,069 over the last ninety days. Company insiders own 5.70% of the company's stock.

Adaptive Biotechnologies Trading Down 2.3%

NASDAQ ADPT opened at $24.34 on Wednesday. Adaptive Biotechnologies Corporation has a one year low of $12.00 and a one year high of $26.87. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. The firm has a market cap of $3.88 billion, a P/E ratio of -59.37 and a beta of 2.08. The stock's 50-day moving average is $23.21 and its 200-day moving average is $17.79.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.12). The company had revenue of $71.55 million for the quarter, compared to analyst estimates 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 was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Sell-side analysts anticipate 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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