The Manufacturers Life Insurance Company Purchases Shares of 116,722 Adaptive Biotechnologies Corporation $ADPT

The Manufacturers Life Insurance Company acquired a new position in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) in the second quarter, HoldingsChannel.com reports. The firm acquired 116,722 shares of the company’s stock, valued at approximately $2,504,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth about $324,735,000. Ameriprise Financial Inc. grew its stake in Adaptive Biotechnologies by 84.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after buying an additional 2,731,648 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Adaptive Biotechnologies by 303.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock valued at $71,252,000 after buying an additional 3,299,635 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Adaptive Biotechnologies in the 4th quarter valued at about $65,942,000. Finally, Geode Capital Management LLC raised its holdings in Adaptive Biotechnologies by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company’s stock valued at $57,041,000 after acquiring an additional 110,825 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock opened at $24.66 on Thursday. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -60.15 and a beta of 2.09. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $26.87. The company has a 50-day simple moving average of $23.32 and a two-hundred day simple moving average of $17.85.

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

Insider Buying and Selling

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 30,664 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $24.40, for a total transaction of $748,201.60. Following the transaction, the director owned 46,683 shares in the company, valued at $1,139,065.20. This trade represents a 39.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Harlan S. Robins sold 492,400 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $21.89, for a total value of $10,778,636.00. Following the completion of the transaction, the insider directly owned 812,058 shares of the company’s stock, valued at $17,775,949.62. This represents a 37.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,011,584 shares of company stock valued at $45,765,999 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

ADPT has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Guggenheim increased their target price on Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. dropped their price target on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Piper Sandler boosted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, TD Cowen upped their price objective on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.42.

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.