Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells 1,195 Shares

Key Points

• Insider sale: Susan Bobulsky sold 1,195 Adaptive Biotechnologies shares for $32,265 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 0.30% to 395,794 shares.
• Stock performance: ADPT rose 3.2% to $28.55, near its 12-month high of $28.72, with a market capitalization of approximately $4.56 billion.
• Mixed fundamentals and outlook: The company missed quarterly EPS expectations but beat revenue estimates, while analysts maintained a “Moderate Buy” consensus; institutional investors own 99.17% of the stock.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Susan Bobulsky sold 1,195 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $27.00, for a total value of $32,265.00. Following the transaction, the insider owned 395,794 shares in the company, valued at $10,686,438. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Susan Bobulsky also recently made the following trade(s):

• On Monday, August 10th, Susan Bobulsky sold 3,000 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.00, for a total transaction of $75,000.00.
• On Thursday, July 30th, Susan Bobulsky sold 1,299 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $24.00, for a total transaction of $31,176.00.
• On Wednesday, July 1st, Susan Bobulsky sold 487 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $22.00, for a total transaction of $10,714.00.

Adaptive Biotechnologies Trading Up 3.2%

NASDAQ ADPT traded up $0.88 during trading on Thursday, hitting $28.55. 3,279,633 shares of the company's stock traded hands, compared to its average volume of 2,297,749. The stock has a fifty day moving average of $24.08 and a two-hundred day moving average of $18.49. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $28.72. The firm has a market cap of $4.56 billion, a P/E ratio of -69.63 and a beta of 2.09. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $71.55 million for the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.Adaptive Biotechnologies's revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share. As a group, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

ADPT has been the subject of several analyst reports. Guggenheim increased their price target on shares of 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 reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. 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. Finally, TD Cowen upped their price target on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a research 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, the company presently has an average rating of "Moderate Buy" and an average price target of $24.42.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently modified their holdings of ADPT. BlackRock Inc. purchased a new stake in Adaptive Biotechnologies in the second quarter worth about $324,735,000. Westfield Capital Management Co. LP purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $65,942,000. Wellington Management Group LLP grew its holdings in shares of Adaptive Biotechnologies by 53.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock worth $126,799,000 after acquiring an additional 2,053,944 shares during the period. Bank of America Corp DE bought a new position in shares of Adaptive Biotechnologies in the 2nd quarter worth approximately $37,109,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $26,801,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

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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