Adaptive Biotechnologies (NASDAQ:ADPT) Director Robert Hershberg Sells 30,664 Shares of Stock

Key Points

• Director Robert Hershberg sold 30,664 Adaptive Biotechnologies shares for approximately $748,202 at an average price of $24.40, reducing his direct holdings by 39.64% to 46,683 shares.
• ADPT shares recently traded at $25.44, near their 12-month high of $26.16, while the company reported quarterly revenue of $71.55 million—up 21.5% year over year—but missed EPS expectations with a loss of $0.25 per share.
• Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $24.42; price targets were raised by several firms, including TD Cowen to $28.00 and Piper Sandler to $27.50.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) Director Robert Hershberg sold 30,664 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $24.40, for a total transaction of $748,201.60. Following the completion of the transaction, the director directly owned 46,683 shares of the company's stock, valued at $1,139,065.20. The trade was a 39.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Adaptive Biotechnologies Trading Down 0.2%

Shares of Adaptive Biotechnologies stock traded down $0.05 during mid-day trading on Thursday, hitting $25.44. 1,966,087 shares of the stock were exchanged, compared to its average volume of 2,336,118. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $26.16. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -62.05 and a beta of 2.08. The company has a 50-day simple moving average of $21.75 and a 200 day simple moving average of $17.24. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22.

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

Analysts Set New Price Targets

Several research analysts have weighed in on ADPT shares. Piper Sandler boosted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Guggenheim lifted their price objective on Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. TD Cowen raised their price target on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Morgan Stanley lifted their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.42.

Institutional Trading of Adaptive Biotechnologies

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth $208,000. Susquehanna Advisors Group Inc. acquired a new position in Adaptive Biotechnologies in the second quarter valued at $3,951,000. Cookson Peirce & Co. Inc. purchased a new stake in Adaptive Biotechnologies during the second quarter valued at about $868,000. Wellington Management Group LLP grew its position in Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock valued at $126,799,000 after acquiring an additional 2,053,944 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Adaptive Biotechnologies during the second quarter worth about $37,109,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

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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