Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in Adaptive Biotechnologies Corporation $ADPT

Sumitomo Mitsui Trust Group Inc. decreased its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 18.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,595,370 shares of the company’s stock after selling 352,593 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Adaptive Biotechnologies were worth $22,144,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADPT. AQR Capital Management LLC grew its holdings in Adaptive Biotechnologies by 45.8% during the 1st quarter. AQR Capital Management LLC now owns 310,272 shares of the company’s stock valued at $2,265,000 after purchasing an additional 97,444 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Adaptive Biotechnologies by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock worth $511,000 after buying an additional 2,914 shares in the last quarter. Caxton Associates LLP acquired a new position in Adaptive Biotechnologies in the 1st quarter worth $93,000. New York State Common Retirement Fund boosted its position in Adaptive Biotechnologies by 39.2% in the 2nd quarter. New York State Common Retirement Fund now owns 47,258 shares of the company’s stock valued at $551,000 after buying an additional 13,300 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Adaptive Biotechnologies by 728.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 379,120 shares of the company’s stock valued at $4,417,000 after acquiring an additional 333,379 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $21.02 on Tuesday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -63.70 and a beta of 2.07. Adaptive Biotechnologies Corporation has a one year low of $9.96 and a one year high of $22.80. The stock has a 50-day simple moving average of $16.94 and a 200 day simple moving average of $16.05.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $70.87 million for the quarter, compared to the consensus estimate of $61.03 million. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.Adaptive Biotechnologies’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. On average, equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Susan Bobulsky sold 5,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider owned 411,775 shares in the company, valued at $7,823,725. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 386,240 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $22.01, for a total transaction of $8,501,142.40. Following the sale, the insider directly owned 1,019,658 shares in the company, valued at $22,442,672.58. This trade represents a 27.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 939,605 shares of company stock valued at $18,858,552. 5.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADPT shares. BTIG Research reaffirmed a “buy” rating and set a $22.00 target price on shares of Adaptive Biotechnologies in a research report on Wednesday, June 17th. Morgan Stanley raised their price objective on Adaptive Biotechnologies from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. Guggenheim increased their target price on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.83.

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.