317,624 Shares in Adaptive Biotechnologies Corporation $ADPT Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. acquired a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 317,624 shares of the company’s stock, valued at approximately $4,409,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADPT. Lazard Asset Management LLC raised its position in shares of Adaptive Biotechnologies by 16.0% in the first quarter. Lazard Asset Management LLC now owns 25,098 shares of the company’s stock valued at $348,000 after buying an additional 3,471 shares in the last quarter. Renaissance Technologies LLC bought a new position in Adaptive Biotechnologies during the 1st quarter worth $3,328,000. Gibbs Wealth Management acquired a new position in Adaptive Biotechnologies in the 1st quarter valued at $383,000. Sei Investments Co. lifted its position in shares of Adaptive Biotechnologies by 77.1% during the 1st quarter. Sei Investments Co. now owns 560,554 shares of the company’s stock valued at $7,780,000 after acquiring an additional 243,985 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Adaptive Biotechnologies by 40.5% during the 1st quarter. Cetera Investment Advisers now owns 42,407 shares of the company’s stock valued at $589,000 after acquiring an additional 12,221 shares during the period. Institutional investors and hedge funds own 99.17% of the company’s stock.

Insider Activity at Adaptive Biotechnologies

In related news, insider Susan Bobulsky sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 411,775 shares in the company, valued at $7,823,725. This represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company’s 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 transaction, the insider owned 230,713 shares of the company’s stock, valued at approximately $5,211,806.67. This represents a 16.27% 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. Over the last 90 days, insiders sold 813,387 shares of company stock valued at $17,049,927. Company insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ADPT. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. TD Cowen reissued a “buy” rating on shares of Adaptive Biotechnologies in a report on Wednesday, July 15th. JPMorgan Chase & Co. cut their price target on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Morgan Stanley increased their price target on shares of Adaptive Biotechnologies from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, Guggenheim lifted their price objective on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and a consensus price target of $20.83.

Adaptive Biotechnologies Stock Up 1.2%

NASDAQ:ADPT opened at $22.54 on Tuesday. Adaptive Biotechnologies Corporation has a twelve month low of $9.96 and a twelve month high of $23.15. The stock’s 50-day simple moving average is $18.69 and its 200 day simple moving average is $16.47. The firm has a market capitalization of $3.61 billion, a PE ratio of -68.30 and a beta of 2.07.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $70.87 million during 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%.The business’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. On average, analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current fiscal 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.