Peregrine Capital Management LLC Acquires 34,139 Shares of Adaptive Biotechnologies Corporation $ADPT

Peregrine Capital Management LLC increased its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 7.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 486,641 shares of the company’s stock after buying an additional 34,139 shares during the period. Peregrine Capital Management LLC owned 0.32% of Adaptive Biotechnologies worth $6,755,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in Adaptive Biotechnologies by 45.8% in the 1st quarter. AQR Capital Management LLC now owns 310,272 shares of the company’s stock valued at $2,265,000 after buying an additional 97,444 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Adaptive Biotechnologies by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock worth $511,000 after buying an additional 2,914 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Adaptive Biotechnologies in the first quarter valued at about $93,000. New York State Common Retirement Fund boosted its position in shares of Adaptive Biotechnologies by 39.2% in the second quarter. New York State Common Retirement Fund now owns 47,258 shares of the company’s stock valued at $551,000 after acquiring an additional 13,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Adaptive Biotechnologies by 728.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 379,120 shares of the company’s stock valued at $4,417,000 after acquiring an additional 333,379 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADPT has been the subject of several analyst reports. Wall Street Zen cut shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Morgan Stanley reduced their price target on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Guggenheim lifted their price objective on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. 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 report on Wednesday, May 6th. Five 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Insider Transactions at Adaptive Biotechnologies

In related news, insider Sharon Benzeno sold 154,768 shares of the firm’s stock in a transaction that occurred on 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 owned 221,278 shares in the company, valued at $4,677,816.92. This trade represents a 41.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Julie Rubinstein sold 30,941 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $14.83, for a total transaction of $458,855.03. Following the sale, the chief operating officer owned 434,188 shares in the company, valued at approximately $6,439,008.04. This represents a 6.65% 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 90 days, insiders have sold 698,316 shares of company stock valued at $11,655,488. Company insiders own 5.70% of the company’s stock.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $22.37 on Thursday. The company’s 50 day simple moving average is $15.81 and its 200 day simple moving average is $15.79. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -67.79 and a beta of 2.07. Adaptive Biotechnologies Corporation has a 1 year low of $9.96 and a 1 year high of $22.54.

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

About Adaptive Biotechnologies

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.