Fred Alger Management LLC Trims Stock Holdings in Adaptive Biotechnologies Corporation $ADPT

Fred Alger Management LLC reduced its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 10.7% during the 4th quarter, Holdings Channel reports. The fund owned 2,245,418 shares of the company’s stock after selling 268,816 shares during the period. Fred Alger Management LLC’s holdings in Adaptive Biotechnologies were worth $36,466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1492 Capital Management LLC purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at $1,484,000. UBS Group AG lifted its position in shares of Adaptive Biotechnologies by 101.6% in the fourth quarter. UBS Group AG now owns 511,927 shares of the company’s stock valued at $8,314,000 after acquiring an additional 257,947 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Adaptive Biotechnologies by 33.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 362,811 shares of the company’s stock valued at $5,892,000 after acquiring an additional 91,683 shares in the last quarter. Rhenman & Partners Asset Management AB lifted its position in shares of Adaptive Biotechnologies by 22.2% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 605,000 shares of the company’s stock valued at $9,825,000 after acquiring an additional 110,000 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Adaptive Biotechnologies by 103.9% in the fourth quarter. Jennison Associates LLC now owns 2,674,668 shares of the company’s stock valued at $43,437,000 after acquiring an additional 1,363,181 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADPT shares. Wall Street Zen downgraded Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Guggenheim reiterated a “buy” rating and issued a $21.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and issued a $22.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. dropped their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Six equities 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 stock. According to data from MarketBeat, Adaptive Biotechnologies has an average rating of “Moderate Buy” and an average price target of $19.57.

Adaptive Biotechnologies Trading Down 1.4%

Adaptive Biotechnologies stock opened at $17.22 on Wednesday. The firm has a market capitalization of $2.76 billion, a P/E ratio of -52.18 and a beta of 2.15. The stock has a fifty day moving average price of $14.67 and a 200 day moving average price of $15.61. Adaptive Biotechnologies Corporation has a 52 week low of $9.96 and a 52 week high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The firm had revenue of $70.87 million during the quarter, compared to analyst estimates of $61.03 million. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The business’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) earnings per share. As a group, equities analysts predict that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Francis Lo sold 39,741 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $17.49, for a total transaction of $695,070.09. Following the completion of the sale, the insider directly owned 250,934 shares in the company, valued at $4,388,835.66. This represents a 13.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Piskel sold 3,115 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $13.04, for a total value of $40,619.60. Following the sale, the chief financial officer 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. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 483,534 shares of company stock valued at $7,097,885. Insiders own 5.70% of the company’s stock.

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.