Wasatch Advisors LP Buys Shares of 576,266 Adaptive Biotechnologies Corporation $ADPT

Wasatch Advisors LP bought a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 576,266 shares of the company’s stock, valued at approximately $12,361,000.

Several other institutional investors have also recently made changes to their positions in ADPT. Westfield Capital Management Co. LP purchased a new stake in Adaptive Biotechnologies in the fourth quarter worth about $65,942,000. Price T Rowe Associates Inc. MD grew its holdings in Adaptive Biotechnologies by 303.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock worth $71,252,000 after acquiring an additional 3,299,635 shares in the last quarter. Ameriprise Financial Inc. increased its position in Adaptive Biotechnologies by 84.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after purchasing an additional 2,731,648 shares during the period. Invesco Ltd. increased its position in Adaptive Biotechnologies by 248.8% during the 4th quarter. Invesco Ltd. now owns 3,107,653 shares of the company’s stock valued at $50,468,000 after purchasing an additional 2,216,595 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Adaptive Biotechnologies by 544.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company’s stock valued at $36,523,000 after purchasing an additional 2,062,282 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADPT. Guggenheim upped their price target on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. TD Cowen lifted their price objective on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Piper Sandler boosted 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. JPMorgan Chase & Co. lowered their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Finally, BTIG Research increased their target price on Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.42.

Insiders Place Their Bets

In other news, insider Susan Bobulsky sold 3,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the transaction, the insider owned 396,989 shares in the company, valued at $9,924,725. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sharon Benzeno sold 154,768 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the transaction, the insider owned 221,278 shares in the company, valued at approximately $4,677,816.92. This trade represents a 41.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,310,086 shares of company stock worth $27,934,739 over the last ninety days. Insiders own 5.70% of the company’s stock.

Adaptive Biotechnologies Stock Down 0.6%

Adaptive Biotechnologies stock opened at $25.25 on Thursday. 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 stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -61.59 and a beta of 2.08. Adaptive Biotechnologies Corporation has a 1-year low of $11.92 and a 1-year high of $26.16. The business has a fifty day moving average price of $21.00 and a 200-day moving average price of $17.02.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The business had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

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.