Peregrine Capital Management LLC Has $7.82 Million Holdings in Adaptive Biotechnologies Corporation $ADPT

Peregrine Capital Management LLC lessened its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 25.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 522,802 shares of the company’s stock after selling 179,909 shares during the period. Peregrine Capital Management LLC’s holdings in Adaptive Biotechnologies were worth $7,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ADPT. Brighton Jones LLC grew its position in shares of Adaptive Biotechnologies by 3.1% in the third quarter. Brighton Jones LLC now owns 23,301 shares of the company’s stock valued at $349,000 after purchasing an additional 700 shares during the last quarter. Bouvel Investment Partners LLC boosted its stake in Adaptive Biotechnologies by 2.2% during the 3rd quarter. Bouvel Investment Partners LLC now owns 42,878 shares of the company’s stock valued at $641,000 after purchasing an additional 904 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Adaptive Biotechnologies by 3.1% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 30,512 shares of the company’s stock valued at $355,000 after buying an additional 910 shares during the last quarter. California State Teachers Retirement System grew its holdings in Adaptive Biotechnologies by 1.0% in the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock valued at $1,145,000 after buying an additional 933 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in Adaptive Biotechnologies by 7.6% in the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock worth $184,000 after buying an additional 1,119 shares during the period. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $15.76 on Friday. The stock has a market cap of $2.41 billion, a P/E ratio of -29.18 and a beta of 2.18. Adaptive Biotechnologies Corporation has a one year low of $5.97 and a one year high of $20.76. The stock has a fifty day moving average price of $16.45 and a 200 day moving average price of $14.29.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The firm had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. During the same quarter in the previous year, the firm posted ($0.22) EPS. The business’s revenue for the quarter was up 102.4% on a year-over-year basis. Equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADPT. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Guggenheim assumed coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price for the company. Cowen reissued a “buy” rating on shares of Adaptive Biotechnologies in a report on Wednesday. BTIG Research raised their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Piper Sandler boosted their price objective on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Adaptive Biotechnologies has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Insiders Place Their Bets

In related news, insider Sharon Benzeno sold 12,604 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $16.85, for a total value of $212,377.40. Following the sale, the insider owned 296,791 shares of the company’s stock, valued at $5,000,928.35. The trade was a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Hershberg sold 22,968 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $16.00, for a total transaction of $367,488.00. Following the transaction, the director owned 46,722 shares of the company’s stock, valued at approximately $747,552. This represents a 32.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,358,650 shares of company stock valued at $23,122,398 over the last 90 days. Company insiders own 6.40% of the company’s stock.

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.