Gibbs Wealth Management Buys Shares of 27,592 Adaptive Biotechnologies Corporation $ADPT

Gibbs Wealth Management bought a new stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,592 shares of the company’s stock, valued at approximately $383,000.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its position in Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after buying an additional 1,565 shares in the last quarter. KBC Group NV purchased a new position in Adaptive Biotechnologies during the first quarter valued at $45,000. Assetmark Inc. raised its stake in Adaptive Biotechnologies by 867.9% during the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock valued at $49,000 after buying an additional 2,708 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in Adaptive Biotechnologies during the fourth quarter valued at $51,000. 99.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

ADPT has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and issued a $22.00 price target on shares of Adaptive Biotechnologies in a research report on Wednesday, June 17th. Morgan Stanley upped their price target on shares of Adaptive Biotechnologies from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Adaptive Biotechnologies in a report on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and an average price target of $20.83.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $22.27 on Monday. The company has a market cap of $3.56 billion, a P/E ratio of -67.48 and a beta of 2.07. Adaptive Biotechnologies Corporation has a 1 year low of $9.96 and a 1 year high of $23.15. The stock’s fifty day moving average price is $18.49 and its 200-day moving average price is $16.42.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The company had revenue of $70.87 million during the quarter, compared to the consensus estimate of $61.03 million. During the same period last year, the company earned ($0.20) EPS. Adaptive Biotechnologies’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In other news, insider Susan Bobulsky sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. Following the sale, the insider owned 411,775 shares of the company’s stock, valued at $7,823,725. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sharon Benzeno sold 154,768 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the completion of the sale, the insider owned 221,278 shares of the company’s stock, valued at $4,677,816.92. This represents a 41.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 813,387 shares of company stock worth $17,049,927. 5.70% of the stock is owned by insiders.

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.