Lisanti Capital Growth LLC Sells 113,535 Shares of Adaptive Biotechnologies Corporation $ADPT

Lisanti Capital Growth LLC lessened its position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 34.9% during the third quarter, Holdings Channel reports. The institutional investor owned 211,620 shares of the company’s stock after selling 113,535 shares during the quarter. Adaptive Biotechnologies accounts for 1.6% of Lisanti Capital Growth LLC’s holdings, making the stock its 14th largest holding. Lisanti Capital Growth LLC’s holdings in Adaptive Biotechnologies were worth $6,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADPT. Nykredit A S bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth $31,000. Allworth Financial LP bought a new stake in Adaptive Biotechnologies in the 2nd quarter valued at about $35,000. Integrated Wealth Concepts LLC bought a new stake in Adaptive Biotechnologies in the 2nd quarter valued at about $46,000. KBC Group NV bought a new stake in Adaptive Biotechnologies in the 1st quarter valued at about $45,000. Finally, Assetmark Inc. raised its stake in Adaptive Biotechnologies by 46.4% in the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock valued at $61,000 after acquiring an additional 1,401 shares during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ADPT. National Bank Financial set a $34.00 price objective on shares of Adaptive Biotechnologies in a report on Tuesday, September 22nd. Morgan Stanley lifted their target price on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, October 12th. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. TD Cowen upped their price target on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Finally, BTIG Research upped their price target on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and an average target price of $30.31.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 30,664 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $24.40, for a total value of $748,201.60. Following the sale, the director directly owned 46,683 shares in the company, valued at $1,139,065.20. This represents a 39.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Francis Lo sold 115,406 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $28.06, for a total transaction of $3,238,292.36. Following the completion of the transaction, the insider directly owned 220,867 shares of the company’s stock, valued at approximately $6,197,528.02. The trade was a 34.32% 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 have sold 1,071,525 shares of company stock valued at $27,404,692 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Adaptive Biotechnologies Stock Up 2.0%

ADPT stock opened at $29.94 on Thursday. The stock has a 50-day simple moving average of $26.72 and a two-hundred day simple moving average of $20.03. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $32.21. The firm has a market capitalization of $4.85 billion, a PE ratio of -66.53 and a beta of 2.18. The company has a quick ratio of 3.87, a current ratio of 3.97 and a debt-to-equity ratio of 1.82.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.12. Adaptive Biotechnologies had a negative net margin of 23.67% and a negative return on equity of 23.95%. The firm had revenue of $83.90 million for the quarter, compared to the consensus estimate of $71.57 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. On average, equities analysts predict that Adaptive Biotechnologies Corporation will post -0.29 EPS for the current fiscal year.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.