Affinity Wealth Management LLC Invests $4.54 Million in Adaptive Biotechnologies Corporation $ADPT

Affinity Wealth Management LLC bought a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) during the third quarter, HoldingsChannel.com reports. The fund bought 303,533 shares of the company’s stock, valued at approximately $4,541,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Adaptive Biotechnologies by 15.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,215,171 shares of the company’s stock valued at $37,461,000 after buying an additional 434,347 shares in the last quarter. Bank of America Corp DE grew its stake in Adaptive Biotechnologies by 26.2% during the second quarter. Bank of America Corp DE now owns 1,857,168 shares of the company’s stock worth $21,636,000 after buying an additional 385,615 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Adaptive Biotechnologies by 2.3% during the second quarter. Kennedy Capital Management LLC now owns 1,297,903 shares of the company’s stock worth $15,121,000 after buying an additional 29,329 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Adaptive Biotechnologies by 64.4% during the second quarter. Invesco Ltd. now owns 908,414 shares of the company’s stock worth $10,583,000 after buying an additional 355,883 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Adaptive Biotechnologies by 4,802.2% in the second quarter. First Trust Advisors LP now owns 741,306 shares of the company’s stock valued at $8,636,000 after acquiring an additional 726,184 shares during the last quarter. Institutional investors own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADPT. JPMorgan Chase & Co. increased their price target on Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Piper Sandler set a $21.00 price objective on Adaptive Biotechnologies in a research note on Friday, February 6th. Wall Street Zen upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Morgan Stanley began coverage on shares of Adaptive Biotechnologies in a research report on Monday, December 1st. They set an “equal weight” rating and a $21.00 price target on the stock. Finally, TD Cowen reissued a “buy” rating on shares of Adaptive Biotechnologies in a report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Adaptive Biotechnologies Price Performance

ADPT opened at $16.04 on Friday. The firm has a 50 day simple moving average of $16.86 and a 200 day simple moving average of $15.37. Adaptive Biotechnologies Corporation has a fifty-two week low of $6.26 and a fifty-two week high of $20.76. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -40.10 and a beta of 2.18.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. The firm had revenue of $71.68 million during the quarter, compared to analyst estimates of $59.38 million. Adaptive Biotechnologies had a negative net margin of 21.48% and a negative return on equity of 46.68%. The business’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.23) EPS. As a group, analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Insiders Place Their Bets

In related news, insider Sharon Benzeno sold 308,477 shares of Adaptive Biotechnologies stock in a transaction on Friday, November 21st. The stock was sold at an average price of $16.91, for a total transaction of $5,216,346.07. Following the completion of the sale, the insider directly owned 296,791 shares of the company’s stock, valued at $5,018,735.81. The trade was a 50.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Piskel sold 162,820 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $19.50, for a total value of $3,174,990.00. Following the completion of the sale, the chief financial officer owned 216,637 shares of the company’s stock, valued at $4,224,421.50. This represents a 42.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,513,196 shares of company stock worth $26,291,033 over the last three months. Insiders own 6.40% 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.