Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells 115,406 Shares

Key Points

• Insider sale: Francis Lo sold 115,406 Adaptive Biotechnologies shares for approximately $3.24 million at an average price of $28.06 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 34.32%.
• Stock and financial performance: ADPT shares rose 0.2% to $28.61, near their 12-month high of $28.72. Quarterly revenue increased 21.5% year over year to $71.55 million, though the company posted an EPS loss of $0.25, missing analyst expectations.
• Analyst sentiment: Institutional investors own 99.17% of the company, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $24.42; ratings include five Buys, one Hold, and one Sell.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Francis Lo sold 115,406 shares of the firm's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $28.06, for a total transaction of $3,238,292.36. Following the completion of the sale, the insider owned 220,867 shares of the company's stock, valued at $6,197,528.02. This trade represents a 34.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Francis Lo sold 44,838 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $22.59, for a total value of $1,012,890.42.
• On Wednesday, July 1st, Francis Lo sold 51,004 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $22.45, for a total value of $1,145,039.80.

Adaptive Biotechnologies Stock Up 0.2%

Shares of ADPT traded up $0.06 on Friday, reaching $28.61. The stock had a trading volume of 2,985,535 shares, compared to its average volume of 1,877,872. 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 Corporation has a 12-month low of $12.00 and a 12-month high of $28.72. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of -69.78 and a beta of 2.09. The company has a 50-day simple moving average of $24.36 and a 200-day simple moving average of $18.65.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its 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). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The business had revenue of $71.55 million for the quarter, compared to the consensus estimate of $65.44 million. During the same quarter last year, the firm posted ($0.17) EPS. The business's quarterly revenue was up 21.5% on a year-over-year basis. Sell-side analysts predict that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. 1492 Capital Management LLC purchased a new position in Adaptive Biotechnologies in the 4th quarter worth about $1,484,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Adaptive Biotechnologies by 33.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 362,811 shares of the company's stock valued at $5,892,000 after acquiring an additional 91,683 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth approximately $65,942,000. Wasatch Advisors LP bought a new stake in shares of Adaptive Biotechnologies in the second quarter worth approximately $12,361,000. Finally, Rhenman & Partners Asset Management AB raised its holdings in shares of Adaptive Biotechnologies by 22.2% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 605,000 shares of the company's stock valued at $9,825,000 after purchasing an additional 110,000 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.

Analyst Ratings Changes

ADPT has been the topic of several analyst reports. Morgan Stanley boosted their target price on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Piper Sandler lifted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. TD Cowen upped their price target on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. BTIG Research increased their price objective on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Adaptive Biotechnologies currently has an average rating of "Moderate Buy" and an average price target of $24.42.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corp. NASDAQ: ADPT is a biotechnology company focused on applying immune-system data to the diagnosis and treatment of disease. The company develops technologies that decode T-cell and B-cell receptors, helping researchers and clinicians analyze the adaptive immune response at the scale of individual immune cells.

Its key products include clonoSEQ, a clinical diagnostic test that measures minimal residual disease in certain blood cancers, including multiple myeloma and acute lymphoblastic leukemia.

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