1492 Capital Management LLC Buys 189,721 Shares of Adaptive Biotechnologies Corporation $ADPT

1492 Capital Management LLC increased its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 207.6% in the first quarter, HoldingsChannel reports. The fund owned 281,096 shares of the company’s stock after purchasing an additional 189,721 shares during the period. Adaptive Biotechnologies makes up about 1.5% of 1492 Capital Management LLC’s portfolio, making the stock its 22nd biggest position. 1492 Capital Management LLC’s holdings in Adaptive Biotechnologies were worth $3,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UBS Group AG grew its holdings in shares of Adaptive Biotechnologies by 101.6% in the fourth quarter. UBS Group AG now owns 511,927 shares of the company’s stock worth $8,314,000 after purchasing an additional 257,947 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Adaptive Biotechnologies by 33.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 362,811 shares of the company’s stock worth $5,892,000 after buying an additional 91,683 shares during the period. Rhenman & Partners Asset Management AB raised its holdings in Adaptive Biotechnologies by 22.2% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 605,000 shares of the company’s stock valued at $9,825,000 after buying an additional 110,000 shares during the last quarter. Jennison Associates LLC raised its holdings in Adaptive Biotechnologies by 103.9% during the 4th quarter. Jennison Associates LLC now owns 2,674,668 shares of the company’s stock valued at $43,437,000 after buying an additional 1,363,181 shares during the last quarter. Finally, Fred Alger Management LLC boosted its position in Adaptive Biotechnologies by 6.7% during the 3rd quarter. Fred Alger Management LLC now owns 2,514,234 shares of the company’s stock valued at $37,613,000 after buying an additional 158,807 shares during the period. 99.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, insider Francis Lo sold 39,741 shares of the business’s stock in a transaction that occurred 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 directly owned 250,934 shares of the company’s stock, valued at $4,388,835.66. The trade was a 13.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Julie Rubinstein sold 30,941 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $14.83, for a total value of $458,855.03. Following the completion of the sale, the chief operating officer owned 434,188 shares in the company, valued at $6,439,008.04. The trade was a 6.65% 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. Insiders have sold a total of 551,574 shares of company stock valued at $8,427,395 over the last ninety days. Company insiders own 5.70% of the company’s stock.

Adaptive Biotechnologies Stock Up 3.6%

ADPT opened at $20.97 on Friday. Adaptive Biotechnologies Corporation has a 52 week low of $9.96 and a 52 week high of $21.01. The stock has a market cap of $3.36 billion, a PE ratio of -63.56 and a beta of 2.15. The business has a 50 day moving average of $15.37 and a 200-day moving average of $15.65.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $70.87 million during the quarter, compared to the consensus estimate of $61.03 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. Equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Analyst Ratings Changes

ADPT has been the topic of a number of recent analyst reports. Guggenheim reissued a “buy” rating and issued a $21.00 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. BTIG Research restated a “buy” rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. Morgan Stanley dropped their price objective on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. decreased their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Five 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 data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

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.