Freestone Grove Partners LP Buys New Position in Adaptive Biotechnologies Corporation $ADPT

Freestone Grove Partners LP bought a new stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 881,688 shares of the company’s stock, valued at approximately $18,912,000. Freestone Grove Partners LP owned about 0.55% of Adaptive Biotechnologies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADPT. BlackRock Inc. bought a new position in shares of Adaptive Biotechnologies in the 2nd quarter worth $324,735,000. Westfield Capital Management Co. LP bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth $65,942,000. Price T Rowe Associates Inc. MD grew its position in Adaptive Biotechnologies by 303.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock worth $71,252,000 after acquiring an additional 3,299,635 shares in the last quarter. Ameriprise Financial Inc. grew its position in Adaptive Biotechnologies by 84.3% in the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock worth $89,337,000 after acquiring an additional 2,731,648 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Adaptive Biotechnologies by 248.8% in the fourth quarter. Invesco Ltd. now owns 3,107,653 shares of the company’s stock valued at $50,468,000 after acquiring an additional 2,216,595 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock opened at $26.44 on Friday. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $4.22 billion, a PE ratio of -64.49 and a beta of 2.08. The firm has a fifty day simple moving average of $22.76 and a two-hundred day simple moving average of $17.59. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $26.87.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The company had revenue of $71.55 million for the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share. Research analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current year.

Insider Activity at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 278,676 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $24.48, for a total transaction of $6,821,988.48. Following the transaction, the chief executive officer directly owned 2,180,518 shares in the company, valued at $53,379,080.64. This trade represents a 11.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Bobulsky sold 3,000 shares of Adaptive Biotechnologies 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 transaction, the insider directly owned 396,989 shares in the company, valued at $9,924,725. This trade represents a 0.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,062,325 shares of company stock worth $46,659,069 over the last three months. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADPT. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. Piper Sandler upped their price objective on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Morgan Stanley increased their price objective on 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. decreased their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, BTIG Research boosted their target price on Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $24.42.

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.