JPMorgan Chase & Co. Sells 799,246 Shares of Adaptive Biotechnologies Corporation $ADPT

JPMorgan Chase & Co. lowered its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 77.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 235,668 shares of the company’s stock after selling 799,246 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of Adaptive Biotechnologies worth $3,526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in shares of Adaptive Biotechnologies in the third quarter worth $30,000. Smartleaf Asset Management LLC grew its stake in Adaptive Biotechnologies by 593.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after buying an additional 3,371 shares during the last quarter. Caxton Associates LLP bought a new position in Adaptive Biotechnologies in the 1st quarter worth $93,000. Quadrant Capital Group LLC acquired a new position in Adaptive Biotechnologies during the 3rd quarter worth $133,000. Finally, Keybank National Association OH acquired a new position in Adaptive Biotechnologies during the 3rd quarter worth $155,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Francis Lo sold 30,593 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $14.08, for a total value of $430,749.44. Following the sale, the insider owned 291,374 shares of the company’s stock, valued at $4,102,545.92. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Susan Bobulsky sold 41,338 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $13.17, for a total transaction of $544,421.46. Following the completion of the transaction, the insider directly owned 427,775 shares of the company’s stock, valued at $5,633,796.75. This trade represents a 8.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,438,479 shares of company stock valued at $35,622,787 in the last 90 days. Insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Adaptive Biotechnologies in a research note on Friday, February 6th. Piper Sandler set a $21.00 target price on Adaptive Biotechnologies in a report on Friday, February 6th. Guggenheim lifted their price target on Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. increased their price objective on Adaptive Biotechnologies from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Seven 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Adaptive Biotechnologies Stock Performance

ADPT opened at $14.81 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of -37.02 and a beta of 2.29. Adaptive Biotechnologies Corporation has a 1 year low of $6.68 and a 1 year high of $20.76. The stock’s 50 day simple moving average is $15.45 and its 200-day simple moving average is $15.96.

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

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.