Rhenman & Partners Asset Management AB lifted its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT – Free Report) by 22.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 605,000 shares of the company’s stock after purchasing an additional 110,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Adaptive Biotechnologies were worth $9,825,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after buying an additional 1,565 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Adaptive Biotechnologies by 867.9% during the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after buying an additional 2,708 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of 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 buying an additional 3,371 shares during the last quarter. Clearstead Advisors LLC increased its holdings in shares of Adaptive Biotechnologies by 1,545.6% during the 4th quarter. Clearstead Advisors LLC now owns 3,752 shares of the company’s stock worth $61,000 after buying an additional 3,524 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth $93,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ADPT has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating and issued a $21.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and issued a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. Finally, TD Cowen increased their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.
Adaptive Biotechnologies Price Performance
Shares of Adaptive Biotechnologies stock opened at $17.60 on Friday. The business has a 50-day moving average of $14.57 and a 200-day moving average of $15.68. The company has a market capitalization of $2.82 billion, a PE ratio of -53.33 and a beta of 2.15. Adaptive Biotechnologies Corporation has a 1-year low of $9.90 and a 1-year high of $20.76.
Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $70.87 million during the quarter, compared to the consensus estimate of $61.03 million. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The company’s revenue was up 35.1% on a year-over-year basis. During the same period last year, the firm earned ($0.20) earnings per share. On average, equities analysts expect that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current fiscal year.
Insider Transactions at Adaptive Biotechnologies
In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 83,332 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $14.41, for a total value of $1,200,814.12. Following the transaction, the chief executive officer owned 2,217,781 shares of the company’s stock, valued at $31,958,224.21. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 39,741 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $17.49, for a total transaction of $695,070.09. Following the completion of the transaction, the insider directly owned 250,934 shares in the company, valued at $4,388,835.66. This represents a 13.67% decrease in their position. 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 90 days, insiders have sold 516,654 shares of company stock valued at $7,509,691. Insiders own 5.70% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Adaptive Biotechnologies
- SpaceX Rings the Bell and Shatters Every Record
- Adobe Stock Just Got Cheaper—Is Wall Street Missing the Story?
- 3 Dividend Stocks Under $50 That Pay You to Wait Out Inflation
- The 127-Gigawatt Problem: Why AI Needs Its Own Power
Want to see what other hedge funds are holding ADPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adaptive Biotechnologies Corporation (NASDAQ:ADPT – Free Report).
Receive News & Ratings for Adaptive Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adaptive Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.
