Renaissance Technologies LLC Acquires New Shares in Adaptive Biotechnologies Corporation $ADPT

Renaissance Technologies LLC acquired a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) during the first quarter, Holdings Channel reports. The fund acquired 239,800 shares of the company’s stock, valued at approximately $3,328,000.

Several other hedge funds also recently added to or reduced their stakes in ADPT. Caitong International Asset Management Co. Ltd purchased a new stake in Adaptive Biotechnologies in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its position in Adaptive Biotechnologies by 197.1% in the fourth 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. KBC Group NV purchased a new position in Adaptive Biotechnologies during the first quarter worth about $45,000. Assetmark Inc. boosted its stake in Adaptive Biotechnologies by 867.9% during the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after buying an additional 2,708 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at about $51,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of research analyst reports. Guggenheim boosted their price target on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. TD Cowen lifted their target price on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Piper Sandler lifted their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a report on Tuesday. Finally, Morgan Stanley boosted their target price on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.42.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Susan Bobulsky sold 1,299 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $24.00, for a total transaction of $31,176.00. Following the sale, the insider directly owned 399,989 shares of the company’s stock, valued at $9,599,736. This represents a 0.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 44,838 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $22.59, for a total transaction of $1,012,890.42. Following the sale, the insider owned 230,713 shares in the company, valued at approximately $5,211,806.67. This trade represents a 16.27% 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. Insiders sold 1,307,086 shares of company stock valued at $27,859,739 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $24.93 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. The company has a market cap of $3.98 billion, a P/E ratio of -60.80 and a beta of 2.08. The stock has a 50-day moving average of $20.40 and a two-hundred day moving average of $16.88. Adaptive Biotechnologies Corporation has a 1-year low of $11.85 and a 1-year high of $24.96.

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

Adaptive Biotechnologies Company 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.