Man Group plc Takes $1.97 Million Position in Adaptive Biotechnologies Corporation $ADPT

Man Group plc purchased a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 91,921 shares of the company’s stock, valued at approximately $1,972,000. Man Group plc owned approximately 0.06% of Adaptive Biotechnologies 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 the company. California State Teachers Retirement System raised its position in Adaptive Biotechnologies by 1.0% during the second quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock valued at $1,145,000 after acquiring an additional 933 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Adaptive Biotechnologies by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock valued at $205,000 after acquiring an additional 941 shares during the last quarter. Captrust Financial Advisors grew its position in Adaptive Biotechnologies by 7.6% in the second quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock worth $184,000 after acquiring an additional 1,119 shares in the last quarter. Assetmark Inc. grew its position in Adaptive Biotechnologies by 46.4% in the first quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock worth $61,000 after acquiring an additional 1,401 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after purchasing an additional 1,565 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ADPT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Morgan Stanley boosted their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lowered their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Guggenheim boosted their target price on Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, TD Cowen increased their price target on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.42.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $24.34 on Wednesday. The firm’s 50-day moving average is $23.21 and its 200-day moving average is $17.79. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -59.37 and a beta of 2.08. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. Adaptive Biotechnologies Corporation has a 52-week low of $12.00 and a 52-week high of $26.87.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The company had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Harlan S. Robins sold 492,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $21.89, for a total transaction of $10,778,636.00. Following the sale, the insider directly owned 812,058 shares in the company, valued at approximately $17,775,949.62. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter M. Neupert sold 124,690 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $25.15, for a total value of $3,135,953.50. Following the completion of the transaction, the director owned 130,625 shares of the company’s stock, valued at $3,285,218.75. The trade was a 48.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,062,325 shares of company stock worth $46,659,069. 5.70% of the stock is currently owned by corporate insiders.

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.