Adaptive Biotechnologies (NASDAQ:ADPT) CEO Chad Robins Sells 278,676 Shares

Key Points

• CEO Chad Robins sold 278,676 shares of Adaptive Biotechnologies at an average price of $24.48, totaling approximately $6.82 million and reducing his direct stake by 11.33% to 2.18 million shares.
• ADPT shares recently traded at $25.49, near their 52-week high of $26.16. The company’s latest quarterly revenue rose 21.5% year over year to $71.55 million, though its $0.25-per-share loss missed analyst expectations.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $24.42; institutional investors own 99.17% of the stock.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) CEO Chad Robins sold 278,676 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $24.48, for a total transaction of $6,821,988.48. Following the sale, the chief executive officer directly owned 2,180,518 shares of the company's stock, valued at $53,379,080.64. This represents a 11.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Adaptive Biotechnologies Price Performance

Shares of ADPT traded up $0.93 during mid-day trading on Wednesday, hitting $25.49. 2,145,752 shares of the company were exchanged, compared to its average volume of 2,579,911. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of -62.17 and a beta of 2.08. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $26.16. The company has a 50 day moving average of $21.75 and a 200-day moving average of $17.24. 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 (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm 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 firm posted ($0.17) earnings per share. The company's quarterly revenue was up 21.5% on a year-over-year basis. Analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Adaptive Biotechnologies by 53.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock valued at $126,799,000 after purchasing an additional 2,053,944 shares during the last quarter. Bank of America Corp DE purchased a new stake in Adaptive Biotechnologies in the 2nd quarter valued at about $37,109,000. Freestone Grove Partners LP purchased a new stake in Adaptive Biotechnologies in the 2nd quarter valued at about $18,912,000. Odyssean LLC acquired a new position in Adaptive Biotechnologies in the second quarter valued at about $1,452,000. Finally, Man Group plc purchased a new position in Adaptive Biotechnologies during the second quarter worth about $1,972,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of analyst reports. BTIG Research upped their price target on Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a "buy" 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. Guggenheim raised 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. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Finally, TD Cowen upped their price objective on shares of 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 issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Adaptive Biotechnologies presently has a consensus rating of "Moderate Buy" and an average target price of $24.42.

About Adaptive Biotechnologies

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.

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