Adaptive Biotechnologies (NASDAQ:ADPT) Insider Francis Lo Sells 26,792 Shares of Company Stock

Key Points

• Insider sale: Francis Lo sold 26,792 Adaptive Biotechnologies shares for approximately $757,678 under a pre-arranged Rule 10b5-1 plan, reducing his position by 10.82% to 220,867 shares. He also sold 115,406 shares in September.
• Stock performance: ADPT shares rose 5.3% to $29.84, near their 52-week high of $29.96, giving the company a market capitalization of about $4.76 billion.
• Analyst outlook and results: Analysts maintain a “Moderate Buy” consensus with an average price target of $28.94, although the company recently missed quarterly EPS expectations despite 21.5% year-over-year revenue growth.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Francis Lo sold 26,792 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $28.28, for a total transaction of $757,677.76. Following the transaction, the insider owned 220,867 shares in the company, valued at approximately $6,246,118.76. The trade was a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis Lo also recently made the following trade(s):

• On Wednesday, September 16th, Francis Lo sold 115,406 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $28.06, for a total transaction of $3,238,292.36.

Adaptive Biotechnologies Trading Up 5.3%

Shares of NASDAQ:ADPT traded up $1.49 on Monday, hitting $29.84. The company had a trading volume of 1,424,680 shares, compared to its average volume of 2,400,319. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $29.96. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The firm's 50-day simple moving average is $25.78 and its two-hundred day simple moving average is $19.76. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -72.78 and a beta of 2.09.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, September 22nd. The Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Finally, TD Cowen increased their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.94.

Institutional Trading of Adaptive Biotechnologies

A number of hedge funds have recently made changes to their positions in the stock. Nykredit A S bought a new stake in shares of Adaptive Biotechnologies during the second quarter valued at approximately $31,000. Allworth Financial LP purchased a new stake in Adaptive Biotechnologies in the second quarter worth $35,000. Caitong International Asset Management Co. Ltd bought a new stake in Adaptive Biotechnologies during the 4th quarter valued at $28,000. Integrated Wealth Concepts LLC purchased a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at approximately $46,000. Finally, KBC Group NV purchased a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at about $45,000. 99.17% of the stock is owned by institutional investors.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.

The company's product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.

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