Lisanti Capital Growth LLC lessened its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT – Free Report) by 34.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211,620 shares of the company’s stock after selling 113,535 shares during the period. Adaptive Biotechnologies accounts for about 1.6% of Lisanti Capital Growth LLC’s portfolio, making the stock its 14th biggest position. Lisanti Capital Growth LLC owned about 0.13% of Adaptive Biotechnologies worth $6,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADPT. Nykredit A S acquired a new position in Adaptive Biotechnologies during the second quarter valued at approximately $31,000. Allworth Financial LP acquired a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at $35,000. KBC Group NV acquired a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at $45,000. Integrated Wealth Concepts LLC bought a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at $46,000. Finally, Assetmark Inc. increased its stake in shares of Adaptive Biotechnologies by 46.4% in the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock valued at $61,000 after purchasing an additional 1,401 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Adaptive Biotechnologies news, Director Robert Hershberg sold 30,664 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $24.40, for a total transaction of $748,201.60. Following the transaction, the director directly owned 46,683 shares of the company’s stock, valued at $1,139,065.20. The trade was a 39.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Francis Lo sold 115,406 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $28.06, for a total transaction of $3,238,292.36. Following the completion of the sale, the insider directly owned 220,867 shares of the company’s stock, valued at $6,197,528.02. The trade was a 34.32% 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 three months, insiders sold 1,071,525 shares of company stock valued at $27,404,692. 5.70% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research analysts have recently commented on ADPT shares. Piper Sandler increased their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. BTIG Research lifted their price target on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. TD Cowen upped their price objective on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. The Goldman Sachs Group assumed coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 29th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, October 12th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.31.
View Our Latest Stock Report on ADPT
Adaptive Biotechnologies Trading Up 2.0%
NASDAQ:ADPT opened at $29.94 on Thursday. The firm’s fifty day moving average is $26.72 and its 200-day moving average is $20.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 3.87 and a current ratio of 3.97. Adaptive Biotechnologies Corporation has a 52 week low of $12.00 and a 52 week high of $32.21. The firm has a market cap of $4.85 billion, a P/E ratio of -66.53 and a beta of 2.18.
Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $71.57 million. During the same period last year, the company posted $0.06 EPS. The business’s quarterly revenue was down 10.7% on a year-over-year basis. Equities analysts expect that Adaptive Biotechnologies Corporation will post -0.29 earnings per share for the current year.
Adaptive Biotechnologies Profile
Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.
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