SummitTX Capital L.P. Takes $4.41 Million Position in Adaptive Biotechnologies Corporation $ADPT

SummitTX Capital L.P. bought a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 317,624 shares of the company’s stock, valued at approximately $4,409,000. SummitTX Capital L.P. owned about 0.20% of Adaptive Biotechnologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ADPT. Westfield Capital Management Co. LP bought a new position in Adaptive Biotechnologies in the fourth quarter valued at approximately $65,942,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Adaptive Biotechnologies by 303.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock valued at $71,252,000 after buying an additional 3,299,635 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Adaptive Biotechnologies by 84.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after buying an additional 2,731,648 shares during the last quarter. Invesco Ltd. grew its stake in shares of Adaptive Biotechnologies by 248.8% in the fourth quarter. Invesco Ltd. now owns 3,107,653 shares of the company’s stock valued at $50,468,000 after buying an additional 2,216,595 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Adaptive Biotechnologies by 544.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company’s stock valued at $36,523,000 after buying an additional 2,062,282 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $22.54 on Tuesday. The company’s 50-day moving average is $18.69 and its 200-day moving average is $16.47. The firm has a market capitalization of $3.61 billion, a PE ratio of -68.30 and a beta of 2.07. Adaptive Biotechnologies Corporation has a fifty-two week low of $9.96 and a fifty-two week high of $23.15.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on ADPT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Morgan Stanley raised their target price on shares of Adaptive Biotechnologies from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. BTIG Research reissued a “buy” rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a research report on Wednesday, June 17th. Finally, Guggenheim upped their price objective on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and a consensus price target of $20.83.

Insider Transactions at Adaptive Biotechnologies

In other news, insider Susan Bobulsky sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $19.00, for a total transaction of $95,000.00. Following the transaction, the insider owned 411,775 shares in the company, valued at approximately $7,823,725. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 386,240 shares of Adaptive Biotechnologies stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $22.01, for a total value of $8,501,142.40. Following the sale, the insider directly owned 1,019,658 shares of the company’s stock, valued at approximately $22,442,672.58. The trade was a 27.47% 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. In the last ninety days, insiders have sold 813,387 shares of company stock worth $17,049,927. Insiders own 5.70% of the company’s stock.

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.