Amova Asset Management Americas Inc. Reduces Position in Adaptive Biotechnologies Corporation $ADPT

Amova Asset Management Americas Inc. lessened its holdings in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 18.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,595,370 shares of the company’s stock after selling 352,593 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Adaptive Biotechnologies were worth $22,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in shares of Adaptive Biotechnologies by 197.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after purchasing an additional 1,565 shares in the last quarter. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at about $45,000. Assetmark Inc. boosted its position in shares of Adaptive Biotechnologies by 867.9% in the 4th 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. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at about $51,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Sharon Benzeno sold 154,768 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $21.14, for a total value of $3,271,795.52. Following the completion of the transaction, the insider directly owned 221,278 shares of the company’s stock, valued at approximately $4,677,816.92. This trade represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 44,838 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $22.59, for a total value of $1,012,890.42. Following the completion of the transaction, the insider directly owned 230,713 shares of the company’s stock, valued at $5,211,806.67. The trade was a 16.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 870,544 shares of company stock valued at $17,857,363 over the last 90 days. Company insiders own 5.70% of the company’s stock.

Adaptive Biotechnologies Stock Performance

ADPT stock opened at $21.86 on Tuesday. Adaptive Biotechnologies Corporation has a one year low of $9.96 and a one year high of $23.15. The company has a fifty day moving average of $17.76 and a 200-day moving average of $16.25. The stock has a market capitalization of $3.50 billion, a PE ratio of -66.24 and a beta of 2.07.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $70.87 million during the quarter, compared to analysts’ expectations of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) earnings per share. Equities analysts forecast that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADPT has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Morgan Stanley upped their price target on shares of Adaptive Biotechnologies from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday. TD Cowen reissued a “buy” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, July 15th. Finally, BTIG Research restated a “buy” rating and issued a $22.00 price objective on shares of Adaptive Biotechnologies in a research note on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.83.

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.