Westfield Capital Management Co. LP Takes $65.94 Million Position in Adaptive Biotechnologies Corporation $ADPT

Westfield Capital Management Co. LP purchased a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,060,481 shares of the company’s stock, valued at approximately $65,942,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of Adaptive Biotechnologies by 45.8% in the first quarter. AQR Capital Management LLC now owns 310,272 shares of the company’s stock valued at $2,265,000 after acquiring an additional 97,444 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 acquiring an additional 2,914 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Adaptive Biotechnologies in the first quarter worth $93,000. New York State Common Retirement Fund increased its stake 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 worth $551,000 after buying an additional 13,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in 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. Institutional investors own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ADPT shares. TD Cowen lifted their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and issued a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. Morgan Stanley cut their price target on shares of Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Piper Sandler set a $21.00 price target on shares of Adaptive Biotechnologies in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.57.

Insider Buying and Selling

In related news, CEO Chad M. Robins sold 37,263 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $15.19, for a total value of $566,024.97. Following the completion of the sale, the chief executive officer directly owned 2,180,518 shares of the company’s stock, valued at approximately $33,122,068.42. This represents a 1.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Piskel sold 3,115 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $13.04, for a total transaction of $40,619.60. Following the completion of the sale, the chief financial officer directly owned 256,725 shares of the company’s stock, valued at $3,347,694. This represents a 1.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 1,771,096 shares of company stock valued at $23,926,217. 5.70% of the stock is owned by corporate insiders.

Adaptive Biotechnologies Stock Down 6.5%

NASDAQ ADPT opened at $16.90 on Friday. Adaptive Biotechnologies Corporation has a 52 week low of $9.90 and a 52 week high of $20.76. The firm has a market capitalization of $2.70 billion, a P/E ratio of -51.21 and a beta of 2.15. The company has a 50-day moving average price of $14.17 and a 200-day moving average price of $15.61.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its 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 company had revenue of $70.87 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.20) EPS. As a group, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.48 EPS for the current 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.