Adaptive Biotechnologies (NASDAQ:ADPT) Insider Harlan Robins Sells 492,400 Shares of Stock

Key Points

• Insider sale: Harlan Robins sold 492,400 Adaptive Biotechnologies shares for approximately $10.8 million under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 37.75% to 812,058 shares.
• Business performance: Adaptive Biotechnologies reported quarterly revenue of $70.87 million, up 35.1% year over year, and adjusted its loss to $0.13 per share, beating analyst expectations.
• Market outlook: ADPT shares rose 0.6% to $22.68, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $20.83; institutional investors own 99.17% of the stock.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Harlan Robins sold 492,400 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $21.89, for a total transaction of $10,778,636.00. Following the completion of the sale, the insider owned 812,058 shares in the company, valued at $17,775,949.62. The trade was a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Adaptive Biotechnologies Trading Up 0.6%

ADPT stock traded up $0.14 on Tuesday, hitting $22.68. 428,289 shares of the company's stock traded hands, compared to its average volume of 2,299,114. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of -68.63 and a beta of 2.07. Adaptive Biotechnologies Corporation has a 1-year low of $9.96 and a 1-year high of $23.15. The stock has a fifty day moving average of $18.69 and a 200-day moving average of $16.47.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $70.87 million for the quarter, compared to analyst estimates of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The firm's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share. On average, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADPT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. Guggenheim increased their price target on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, June 29th. TD Cowen reissued a "buy" rating on shares of Adaptive Biotechnologies in a research note on Wednesday, July 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Finally, BTIG Research restated a "buy" rating and set a $22.00 price objective on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.83.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Adaptive Biotechnologies by 197.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock valued at $38,000 after buying an additional 1,565 shares in the last quarter. KBC Group NV purchased a new position in shares of Adaptive Biotechnologies during the first quarter valued at $45,000. Assetmark Inc. raised its position in Adaptive Biotechnologies by 867.9% during the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company's stock valued at $49,000 after buying an additional 2,708 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Adaptive Biotechnologies in the 4th quarter worth about $51,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Company 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.

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