Legato Capital Management LLC Acquires New Position in Adaptive Biotechnologies Co., CFO and Insider Sell Stocks

On September 15, 2023, Legato Capital Management LLC announced its acquisition of a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT). According to the company’s Form 13F filing with the Securities and Exchange Commission, Legato Capital Management LLC acquired 71,683 shares of the company’s stock during the first quarter of this year. The value of these shares amounts to approximately $633,000.

This acquisition by Legato Capital Management LLC indicates their recognition of the potential growth and value in Adaptive Biotechnologies Co. As an investment management firm, Legato Capital Management LLC carefully selects investments that align with their financial strategies, and this move suggests their confidence in Adaptive Biotechnologies Co.’s future prospects.

In other news related to Adaptive Biotechnologies Co., CFO Tycho Peterson recently sold a significant number of stocks. On June 20th, he conducted a transaction involving the sale of 134,961 shares at an average price of $8.14 per share. The total value of this transaction amounted to approximately $1,098,582.54. After the transaction was completed, CFO Tycho Peterson retained ownership of 399,219 shares in the company with an estimated value of $3,249,642.66.

This sale was disclosed in a filing with the Securities & Exchange Commission and emphasizes an important development within Adaptive Biotechnologies Co.’s financial landscape. The actions taken by key executives can provide insights into their perspectives on company performance and future prospects.

Aside from Tycho Peterson’s transaction, another insider named Nitin Sood conducted his own stock sale for Adaptive Biotechnologies Co. On August 7th, Sood sold 5,652 shares at an average price of $6.78 per share. The total value of this particular sale amounted to $38,320.56. Following the completion of this transaction, Sood held 225,358 shares in the company with an estimated value of $1,527,927.24.

This insider sold a significantly smaller number of shares compared to Tycho Peterson. Nevertheless, it is still important to note these transactions as they contribute to the overall understanding of the company’s financial movements.

In conclusion, Legato Capital Management LLC acquiring a new position in shares of Adaptive Biotechnologies Co., along with significant stock sales by CFO Tycho Peterson and insider Nitin Sood, can affect market perceptions and investor sentiment. Market participants often analyze these kinds of transactions to assess the confidence and outlook of both institutional investors and key executives within a company. As always, thorough due diligence and analysis are essential for investors interested in making informed decisions regarding their investments in Adaptive Biotechnologies Co.

ChampionX Corporation


Strong Buy

Updated on: 15/09/2023

Price Target

Current $37.25

Concensus $31.00

Low $0.00

Median $31.00

High $0.00

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Social Sentiments

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Analyst Ratings

Analyst / firm Rating
Barclays Buy
Neil Mehta
Goldman Sachs

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Investors Show Growing Interest in Adaptive Biotechnologies as Company Makes Strides in Harnessing the Power of the Immune System for Patient Benefit

Adaptive Biotechnologies, a leading biotechnology company, has attracted the attention of several prominent investors who have recently made significant changes to their positions in the business. This influx of investment comes as Adaptive Biotechnologies continues to make strides in its mission to harness the power of the immune system for patient benefit.

Point72 Middle East FZE, a notable investor, recently acquired a new position in Adaptive Biotechnologies, reflecting a growing interest in the company’s potential. Valued at approximately $26,000, this acquisition demonstrates the belief that Point72 Middle East FZE has in Adaptive Biotechnologies’ future prospects.

In addition to Point72 Middle East FZE, PNC Financial Services Group Inc. also raised its holdings in Adaptive Biotechnologies by 176.7% during the first quarter. With 5,293 shares now owned by PNC Financial Services Group Inc., valued at $73,000 after acquiring an additional 3,380 shares last quarter, it is evident that this financial institution sees value and promise in Adaptive Biotechnologies.

Meeder Asset Management Inc., another significant investor, increased its holdings by an astonishing 407.8% during the fourth quarter. Now holding 5,632 shares worth $43,000 after acquiring an additional 4,523 shares last quarter, Meeder Asset Management Inc.’s amplified interest further solidifies the growing anticipation surrounding Adaptive Biotechnologies’ future growth.

Equally noteworthy is MetLife Investment Management LLC’s decision to acquire a new position in Adaptive Biotechnologies during the first quarter valued at approximately $90,000. Moreover,

Healthcare of Ontario Pension Plan Trust Fund also acquired a new position during the first quarter worth around $100,000. These investments from established and reputable institutions highlight the appeal and potential for growth that investors see in Adaptive Biotechnologies.

It is important to note that institutional investors and hedge funds own an overwhelming majority (94.31%) of the company’s stock. This significant ownership further strengthens Adaptive Biotechnologies’ position in the market and underscores the trust that investors are placing in the company’s innovative approach to biotechnology.

Research firms have also provided insights into Adaptive Biotechnologies’ potential, offering guidance and recommendations to both investors and industry insiders. Morgan Stanley, for example, lowered its price target for Adaptive Biotechnologies from $14.00 to $13.00 but maintained an “equal weight” rating for the company in a report released on August 4th.

Similarly, Piper Sandler reduced its target price for Adaptive Biotechnologies from $15.00 to $14.00 but retained an “overweight” rating for the company in their report published on August 8th. These reports further contribute to the ongoing analysis of Adaptive Biotechnologies’ future performance and offer investors valuable insights.

As of September 15, 2023, shares of Adaptive Biotechnologies opened at $6.21, with a market capitalization of $898.25 million. The company’s price-earnings ratio stands at -4.67, reflecting its unique position as a biotechnology firm focused on leveraging the untapped potential of the immune system.

Notably, Adaptive Biotechnologies has experienced a range of fluctuations between its 1-year low of $5.96 and high of $10.79, affirming both volatility in the market as well as opportunities for growth. With a 50-day simple moving average of $6.89 and a 200-day simple moving average of $7.39, one can closely monitor trends within this sector and assess forecasts accordingly.

Releasing its quarterly earnings results on August 2nd, Adaptive Biotechnologies reported ($0.33) EPS for the quarter, which aligns with analysts’ consensus estimates. The company generated revenue amounting to $48.93 million during the quarter, surpassing analyst projections of $44.87 million. Despite a negative return on equity of 43.10% and a negative net margin of 100.69%, Adaptive Biotechnologies still demonstrated a 12.1% increase in revenue year-over-year.

While these financial figures may raise eyebrows, it is crucial to remember that Adaptive Biotechnologies operates within an industry known for its high-risk, high-reward nature. The groundbreaking work being carried out by this company allows it to push boundaries, although profitability may take time to materialize fully.

Looking ahead, analysts’ sell-side forecasts predict that Adaptive Biotechnologies Co. will post -1.21 EPS for the current fiscal year. These estimates provide investors with essential information as they evaluate their investment strategies and consider the long-term viability of their positions.

As Adaptive Biotechnologies continues its research and development efforts, it remains an intriguing company in the biotechnology sector. With major institutional investors increasing their stakes and research firms closely monitoring its progress, the future holds many possibilities for this innovative company aiming to revolutionize healthcare through immune-driven solutions.

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