Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in Adaptive Biotechnologies Corporation $ADPT

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 15.1% during the third quarter, Holdings Channel reports. The fund owned 3,650,646 shares of the company’s stock after selling 649,038 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Adaptive Biotechnologies were worth $54,614,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth about $30,000. Caxton Associates LLP purchased a new position in shares of Adaptive Biotechnologies during the first quarter valued at approximately $93,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Adaptive Biotechnologies during the second quarter worth approximately $134,000. Citizens Financial Group Inc. RI purchased a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $172,000. Finally, JTC Employer Solutions Trustee Ltd raised its holdings in Adaptive Biotechnologies by 129.7% in the 3rd quarter. JTC Employer Solutions Trustee Ltd now owns 11,735 shares of the company’s stock valued at $176,000 after acquiring an additional 6,626 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADPT shares. BTIG Research raised their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Cowen reissued a “buy” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, January 7th. Guggenheim began coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 price objective for the company. Wall Street Zen raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Morgan Stanley assumed coverage on shares of Adaptive Biotechnologies in a report on Monday, December 1st. They issued an “equal weight” rating and a $21.00 target price for the company. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.11.

Insiders Place Their Bets

In other Adaptive Biotechnologies news, insider Sharon Benzeno sold 308,477 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $16.91, for a total value of $5,216,346.07. Following the transaction, the insider directly owned 296,791 shares of the company’s stock, valued at $5,018,735.81. This trade represents a 50.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad M. Robins sold 124,998 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $18.94, for a total value of $2,367,462.12. Following the transaction, the chief executive officer owned 2,709,241 shares in the company, valued at approximately $51,313,024.54. This represents a 4.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,442,530 shares of company stock worth $24,610,748. 6.40% of the stock is owned by company insiders.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $17.78 on Friday. Adaptive Biotechnologies Corporation has a 1-year low of $6.26 and a 1-year high of $20.76. The firm has a market capitalization of $2.71 billion, a P/E ratio of -32.93 and a beta of 2.18. The business’s 50-day simple moving average is $16.54 and its 200-day simple moving average is $14.46.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The firm had revenue of $93.97 million during the quarter, compared to the consensus estimate of $58.76 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The company’s revenue was up 102.4% on a year-over-year basis. On average, equities research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal 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.