Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Adaptive Biotechnologies Corporation $ADPT

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 2nd quarter, HoldingsChannel reports. The firm purchased 785,903 shares of the company’s stock, valued at approximately $16,858,000.

Several other large investors also recently added to or reduced their stakes in ADPT. Caitong International Asset Management Co. Ltd purchased a new stake in Adaptive Biotechnologies during the fourth quarter valued at approximately $28,000. Allworth Financial LP purchased a new position in shares of Adaptive Biotechnologies in the 2nd quarter worth approximately $35,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after purchasing an additional 1,565 shares during the period. KBC Group NV purchased a new position in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $45,000. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at approximately $51,000. 99.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ADPT. Piper Sandler increased their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Guggenheim lifted their price objective on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley boosted their price objective on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. reduced their target price on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.42.

Adaptive Biotechnologies Trading Up 2.7%

Shares of ADPT opened at $26.25 on Wednesday. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -64.02 and a beta of 2.08. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $26.49. The company has a 50-day moving average of $22.40 and a 200 day moving average of $17.45.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The company had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.Adaptive Biotechnologies’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, research analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current year.

Insider Transactions at Adaptive Biotechnologies

In related news, insider Susan Bobulsky sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the sale, the insider owned 396,989 shares in the company, valued at approximately $9,924,725. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Hershberg sold 30,664 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $24.40, for a total value of $748,201.60. Following the completion of the transaction, the director directly owned 46,683 shares in the company, valued at approximately $1,139,065.20. This trade represents a 39.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,062,325 shares of company stock valued at $46,659,069 in the last ninety days. Corporate insiders own 5.70% of the company’s stock.

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.