Adaptive Biotechnologies Corporation $ADPT Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,245,418 shares of the company’s stock after selling 268,816 shares during the period. Fred Alger Management LLC owned approximately 1.47% of Adaptive Biotechnologies worth $36,466,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Adaptive Biotechnologies by 197.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after purchasing an additional 1,565 shares during the period. Assetmark Inc. increased its holdings in shares of Adaptive Biotechnologies by 867.9% in the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock valued at $49,000 after purchasing an additional 2,708 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Adaptive Biotechnologies by 593.5% in the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after purchasing an additional 3,371 shares during the period. Clearstead Advisors LLC increased its holdings in shares of Adaptive Biotechnologies by 1,545.6% in the fourth quarter. Clearstead Advisors LLC now owns 3,752 shares of the company’s stock valued at $61,000 after purchasing an additional 3,524 shares during the period. Finally, Caxton Associates LLP acquired a new position in shares of Adaptive Biotechnologies in the first quarter valued at approximately $93,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

ADPT opened at $17.22 on Wednesday. The business’s fifty day moving average is $14.67 and its two-hundred day moving average is $15.61. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -52.18 and a beta of 2.15. Adaptive Biotechnologies Corporation has a one year low of $9.96 and a one year high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $70.87 million for 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%.Adaptive Biotechnologies’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.20) earnings per share. On average, analysts predict that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 3,115 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $13.04, for a total transaction of $40,619.60. Following the sale, the chief financial officer directly owned 256,725 shares in the company, valued at approximately $3,347,694. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Francis Lo sold 39,741 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $17.49, for a total value of $695,070.09. Following the sale, the insider owned 250,934 shares in the company, valued at approximately $4,388,835.66. The trade was a 13.67% 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. Insiders have sold a total of 483,534 shares of company stock valued at $7,097,885 in the last three months. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADPT. Guggenheim restated a “buy” rating and issued a $21.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. BTIG Research restated a “buy” rating and issued a $22.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Wall Street Zen downgraded Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, JPMorgan Chase & Co. decreased their price target 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. Six 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.57.

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.