Jennison Associates LLC Has $10.45 Million Stake in Adaptive Biotechnologies Corporation $ADPT

Jennison Associates LLC decreased its position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 71.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 753,073 shares of the company’s stock after selling 1,921,595 shares during the quarter. Jennison Associates LLC’s holdings in Adaptive Biotechnologies were worth $10,453,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ADPT. Caitong International Asset Management Co. Ltd acquired a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its position in Adaptive Biotechnologies by 197.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after acquiring an additional 1,565 shares in the last quarter. Assetmark Inc. increased its stake in shares of Adaptive Biotechnologies by 867.9% during the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after purchasing an additional 2,708 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $51,000. Finally, Strive Financial Group LLC bought a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $52,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 386,240 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $22.01, for a total transaction of $8,501,142.40. Following the completion of the sale, the insider directly owned 1,019,658 shares in the company, valued at $22,442,672.58. This represents a 27.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 11,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $18.00, for a total value of $198,000.00. Following the completion of the sale, the insider directly owned 416,775 shares in the company, valued at approximately $7,501,950. This represents a 2.57% 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. Over the last ninety days, insiders have sold 851,484 shares of company stock worth $17,588,045. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADPT shares. Guggenheim lifted their price objective on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, June 29th. BTIG Research reissued a “buy” rating and set a $22.00 target price on shares of Adaptive Biotechnologies in a research report on Wednesday, June 17th. TD Cowen restated a “buy” rating on shares of Adaptive Biotechnologies in a report on Wednesday, July 15th. JPMorgan Chase & Co. reduced their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday. Five 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.83.

Adaptive Biotechnologies Stock Up 3.3%

NASDAQ:ADPT opened at $22.58 on Wednesday. Adaptive Biotechnologies Corporation has a 12 month low of $9.96 and a 12 month high of $23.15. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -68.42 and a beta of 2.07. The company’s 50 day moving average is $17.94 and its 200-day moving average is $16.30.

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

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.