Legato Capital Management LLC Increases Position in Adaptive Biotechnologies Corporation $ADPT

Legato Capital Management LLC increased its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 30.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,013 shares of the company’s stock after buying an additional 55,985 shares during the quarter. Legato Capital Management LLC’s holdings in Adaptive Biotechnologies were worth $3,561,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its position in Adaptive Biotechnologies by 4,802.2% during the 2nd quarter. First Trust Advisors LP now owns 741,306 shares of the company’s stock worth $8,636,000 after acquiring an additional 726,184 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth approximately $6,618,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth $5,346,000. Geode Capital Management LLC lifted its holdings in shares of Adaptive Biotechnologies by 15.6% during the second quarter. Geode Capital Management LLC now owns 3,215,171 shares of the company’s stock worth $37,461,000 after purchasing an additional 434,347 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Adaptive Biotechnologies by 255.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 589,611 shares of the company’s stock valued at $6,869,000 after buying an additional 423,780 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Up 0.6%

ADPT stock opened at $16.12 on Tuesday. The firm has a 50 day moving average of $16.87 and a 200-day moving average of $15.77. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -40.30 and a beta of 2.19. Adaptive Biotechnologies Corporation has a 12-month low of $6.26 and a 12-month high of $20.76.

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

Insiders Place Their Bets

In other news, insider Sharon Benzeno sold 12,604 shares of Adaptive Biotechnologies stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $16.85, for a total transaction of $212,377.40. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert Hershberg sold 22,968 shares of the business’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 completion of the sale, the director owned 46,722 shares in the company, valued at $747,552. This represents a 32.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 583,002 shares of company stock valued at $9,897,927. Company insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ADPT. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, January 21st. BTIG Research increased their price target on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Morgan Stanley started coverage on shares of Adaptive Biotechnologies in a research report on Monday, December 1st. They issued an “equal weight” rating and a $21.00 price objective for the company. Wall Street Zen upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Finally, Piper Sandler set a $21.00 price target on Adaptive Biotechnologies in a report on Friday, February 6th. Seven investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.25.

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.