Peregrine Capital Management LLC Acquires 34,139 Shares of Adaptive Biotechnologies Corporation $ADPT

Peregrine Capital Management LLC increased its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 486,641 shares of the company’s stock after acquiring an additional 34,139 shares during the quarter. Peregrine Capital Management LLC’s holdings in Adaptive Biotechnologies were worth $6,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ADPT. Westfield Capital Management Co. LP purchased a new stake in Adaptive Biotechnologies during the fourth quarter worth about $65,942,000. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $71,252,000 after acquiring an additional 3,299,635 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Adaptive Biotechnologies by 84.3% in the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after acquiring an additional 2,731,648 shares during the last quarter. Invesco Ltd. grew its position in shares of Adaptive Biotechnologies by 248.8% during the 4th 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 period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Adaptive Biotechnologies by 544.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company’s stock worth $36,523,000 after purchasing an additional 2,062,282 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Up 4.3%

ADPT opened at $22.37 on Thursday. Adaptive Biotechnologies Corporation has a 12 month low of $9.96 and a 12 month high of $22.54. The company has a market cap of $3.58 billion, a PE ratio of -67.79 and a beta of 2.07. The company has a 50 day moving average of $15.81 and a 200 day moving average of $15.79.

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

Wall Street Analyst Weigh In

ADPT has been the topic of several research analyst reports. Guggenheim upped their price objective on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday. BTIG Research reissued a “buy” rating and issued a $22.00 target price on shares of Adaptive Biotechnologies in a research report on Wednesday, June 17th. TD Cowen boosted their target price on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, Morgan Stanley cut their price target on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Activity at Adaptive Biotechnologies

In other 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 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 filing with the SEC, 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 6,160 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $18.01, for a total transaction of $110,941.60. Following the completion of the sale, the insider directly owned 1,405,898 shares in the company, valued at approximately $25,320,222.98. The trade was a 0.44% 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. Insiders sold a total of 698,316 shares of company stock worth $11,655,488 in the last 90 days. 5.70% of the stock is owned by company insiders.

About Adaptive Biotechnologies

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.