Victory Capital Management Inc. Decreases Stock Position in Adaptive Biotechnologies Corporation $ADPT

Victory Capital Management Inc. cut its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 26.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,246,573 shares of the company’s stock after selling 456,627 shares during the quarter. Victory Capital Management Inc.’s holdings in Adaptive Biotechnologies were worth $18,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ADPT. Xponance Inc. lifted its position in Adaptive Biotechnologies by 29.3% in the third quarter. Xponance Inc. now owns 15,096 shares of the company’s stock valued at $226,000 after purchasing an additional 3,419 shares during the last quarter. US Bancorp DE increased its stake in shares of Adaptive Biotechnologies by 7.4% in the third quarter. US Bancorp DE now owns 127,153 shares of the company’s stock worth $1,902,000 after buying an additional 8,738 shares during the period. Fox Run Management L.L.C. increased its stake in shares of Adaptive Biotechnologies by 98.0% in the third quarter. Fox Run Management L.L.C. now owns 39,983 shares of the company’s stock worth $598,000 after buying an additional 19,788 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in Adaptive Biotechnologies during the 3rd quarter valued at $557,000. Finally, AXQ Capital LP purchased a new stake in Adaptive Biotechnologies during the 3rd quarter valued at $277,000. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Trading Down 2.9%

Shares of ADPT opened at $14.52 on Wednesday. Adaptive Biotechnologies Corporation has a 1-year low of $6.26 and a 1-year high of $20.76. The firm’s 50-day moving average price is $16.72 and its 200-day moving average price is $15.88. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -36.30 and a beta of 2.19.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.10. Adaptive Biotechnologies had a negative net margin of 21.48% and a negative return on equity of 46.68%. The business had revenue of $71.68 million during the quarter, compared to analyst estimates of $59.38 million. During the same period last year, the business posted ($0.23) earnings per share. Adaptive Biotechnologies’s quarterly revenue was up 51.0% compared to the same quarter last year. On average, research analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Insider Transactions at Adaptive Biotechnologies

In related news, COO Julie Rubinstein sold 19,460 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $14.68, for a total value of $285,672.80. Following the completion of the transaction, the chief operating officer directly owned 643,471 shares in the company, valued at $9,446,154.28. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Francis Lo sold 38,074 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $15.09, for a total transaction of $574,536.66. Following the sale, the insider directly owned 321,967 shares in the company, valued at $4,858,482.03. The trade was a 10.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,209,806 shares of company stock valued at $19,656,239. Company insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD Cowen restated a “buy” rating on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. Morgan Stanley initiated coverage on Adaptive Biotechnologies in a research note on Monday, December 1st. They issued an “equal weight” rating and a $21.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, January 21st. Wall Street Zen cut Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. lifted their price objective on Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

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.