Parkman Healthcare Partners LLC Acquires Shares of 486,984 Adaptive Biotechnologies Corporation $ADPT

Parkman Healthcare Partners LLC bought a new stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 486,984 shares of the company’s stock, valued at approximately $10,446,000.

A number of other institutional investors and hedge funds have also modified their holdings of ADPT. California State Teachers Retirement System raised its position in shares of Adaptive Biotechnologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock worth $1,145,000 after purchasing an additional 933 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Adaptive Biotechnologies by 6.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock worth $205,000 after buying an additional 941 shares during the last quarter. Captrust Financial Advisors boosted its holdings 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 last quarter. Assetmark Inc. boosted its holdings in Adaptive Biotechnologies by 46.4% in the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock worth $61,000 after buying an additional 1,401 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Adaptive Biotechnologies by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,419 shares of the company’s stock worth $120,000 after buying an additional 1,532 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Sharon Benzeno sold 154,768 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the transaction, the insider owned 221,278 shares in the company, valued at approximately $4,677,816.92. This trade represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter M. Neupert sold 124,690 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $25.15, for a total value of $3,135,953.50. Following the transaction, the director owned 130,625 shares in the company, valued at approximately $3,285,218.75. The trade was a 48.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 2,062,325 shares of company stock worth $46,659,069. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

ADPT has been the subject of a number of research analyst reports. BTIG Research increased their target price on Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Piper Sandler lifted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased 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. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.42.

Adaptive Biotechnologies Stock Performance

ADPT opened at $25.55 on Tuesday. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $26.16. The firm has a market capitalization of $4.08 billion, a PE ratio of -62.32 and a beta of 2.08. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. The firm’s 50-day moving average price is $22.22 and its 200 day moving average price is $17.39.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $71.55 million during the quarter, compared to analyst estimates of $65.44 million. During the same quarter in the previous year, the company posted ($0.17) EPS. The firm’s revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

Adaptive Biotechnologies Company 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.