Freestone Grove Partners LP Acquires Shares of 881,688 Adaptive Biotechnologies Corporation $ADPT

Freestone Grove Partners LP acquired a new stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 881,688 shares of the company’s stock, valued at approximately $18,912,000.

A number of other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth about $28,000. Allworth Financial LP purchased a new position in Adaptive Biotechnologies during the 2nd quarter valued at about $35,000. EverSource Wealth Advisors LLC raised its position in Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after purchasing an additional 1,565 shares during the last quarter. KBC Group NV bought a new position in Adaptive Biotechnologies during the 1st quarter valued at approximately $45,000. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Adaptive Biotechnologies in the 4th quarter worth approximately $51,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $26.44 on Friday. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -64.49 and a beta of 2.08. The business’s fifty day moving average is $22.76 and its 200 day moving average is $17.59. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $26.87. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The firm had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) EPS. Research analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Sharon Benzeno sold 154,768 shares of the company’s 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 sale, the insider owned 221,278 shares in the company, valued at approximately $4,677,816.92. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 492,400 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $21.89, for a total transaction of $10,778,636.00. Following the transaction, the insider directly owned 812,058 shares of the company’s stock, valued at $17,775,949.62. This represents a 37.75% 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. Insiders sold a total of 2,062,325 shares of company stock worth $46,659,069 over the last 90 days. 5.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective 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. Guggenheim upped their target price on Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Morgan Stanley raised their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. TD Cowen raised their price target on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, BTIG Research lifted their price target on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.42.

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.