BlackRock Inc. Makes New Investment in Adaptive Biotechnologies Corporation $ADPT

BlackRock Inc. purchased a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,139,159 shares of the company’s stock, valued at approximately $324,735,000. BlackRock Inc. owned approximately 0.09% of Adaptive Biotechnologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Deutsche Bank AG acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $5,092,000. Bank of New York Mellon Corp acquired a new position in Adaptive Biotechnologies in the 2nd quarter worth about $9,207,000. Leeward Financial Partners LLC bought a new position in Adaptive Biotechnologies in the second quarter valued at about $888,000. State of Wyoming bought a new position in Adaptive Biotechnologies in the second quarter valued at about $285,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Adaptive Biotechnologies during the second quarter valued at about $826,000. 99.17% of the stock is currently owned by institutional investors.

Insider Activity at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 278,676 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $24.48, for a total transaction of $6,821,988.48. Following the transaction, the chief executive officer owned 2,180,518 shares in the company, valued at approximately $53,379,080.64. This represents a 11.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Bobulsky sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the sale, the insider owned 396,989 shares of the company’s stock, valued at approximately $9,924,725. This represents a 0.75% 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. Over the last quarter, insiders have sold 2,062,325 shares of company stock worth $46,659,069. Corporate insiders own 5.70% of the company’s stock.

Adaptive Biotechnologies Stock Performance

ADPT stock opened at $26.16 on Thursday. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $26.51. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. The stock has a 50-day moving average price of $22.59 and a 200-day moving average price of $17.52. The firm has a market cap of $4.18 billion, a PE ratio of -63.80 and a beta of 2.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The business had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, equities research analysts expect that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Piper Sandler upped their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Guggenheim raised their price target on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. TD Cowen lifted their price target on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Morgan Stanley increased their price objective on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Five equities 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.42.

Adaptive Biotechnologies Company 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.