Granite Investment Partners LLC Acquires Shares of 500,061 Adaptive Biotechnologies Corporation $ADPT

Granite Investment Partners LLC bought a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 500,061 shares of the company’s stock, valued at approximately $6,941,000.

Other large investors also recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in shares of Adaptive Biotechnologies by 1.0% in the second quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock valued at $1,145,000 after purchasing an additional 933 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Adaptive Biotechnologies by 7.6% during the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock worth $184,000 after buying an additional 1,119 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Adaptive Biotechnologies by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,419 shares of the company’s stock worth $120,000 after buying an additional 1,532 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after buying an additional 1,565 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at $28,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Guggenheim boosted their target price on Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. 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. BTIG Research reaffirmed a “buy” rating and issued a $22.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, June 17th. TD Cowen raised their target price on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Adaptive Biotechnologies Stock Down 3.2%

Shares of Adaptive Biotechnologies stock opened at $20.16 on Thursday. Adaptive Biotechnologies Corporation has a 12 month low of $9.96 and a 12 month high of $22.80. The business has a fifty day simple moving average of $16.50 and a 200 day simple moving average of $15.96. The stock has a market cap of $3.23 billion, a PE ratio of -61.09 and a beta of 2.07.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results 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. The firm had revenue of $70.87 million for the quarter, compared to analysts’ expectations of $61.03 million. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The company’s revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.20) earnings per share. Analysts expect that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Harlan S. Robins sold 386,240 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $22.01, for a total transaction of $8,501,142.40. Following the completion of the transaction, the insider owned 1,019,658 shares in the company, valued at approximately $22,442,672.58. This represents a 27.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider directly owned 411,775 shares of the company’s stock, valued at approximately $7,823,725. This trade represents a 1.20% 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. In the last three months, insiders sold 977,725 shares of company stock worth $19,352,587. 5.70% of the stock is owned by company insiders.

More Adaptive Biotechnologies News

Here are the key news stories impacting Adaptive Biotechnologies this week:

• Negative Sentiment: Harlan Robins sold 386,240 shares of Adaptive Biotechnologies, a transaction worth about $8.5 million, which is the most notable insider sale and may signal caution to investors. Article Title
• Negative Sentiment: Susan Bobulsky sold 487 shares, adding to a pattern of insider selling at Adaptive Biotechnologies. Article Title
• Negative Sentiment: Francis Lo sold 44,838 shares and separately sold another 51,004 shares, reinforcing the recent insider selling trend in ADPT. Article Title
• Neutral Sentiment: Recent filings note that these sales were made under pre-arranged 10b5-1 trading plans, which can reduce the significance of the transactions compared with discretionary selling.
• Positive Sentiment: Adaptive Biotechnologies previously posted better-than-expected quarterly results, including revenue growth of 35.1% year over year and EPS that beat estimates, which may help limit downside pressure.

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.