Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells 6,444 Shares of Company Stock

Key Points

• Insider sale: Susan Bobulsky sold 6,444 Adaptive Biotechnologies shares at an average price of $30, generating $193,320. The transaction, conducted under a Rule 10b5-1 plan, reduced her holdings by 1.63% to 389,350 shares.
• Stock and financial performance: ADPT recently traded at $26.09, near its 52-week high of $30.74, with a market capitalization of approximately $4.16 billion. Its latest quarterly revenue rose 21.5% year over year to $71.55 million, but the company missed EPS expectations and remained unprofitable.
• Investor and analyst sentiment: Institutional investors own 99.17% of the stock, with major firms including BlackRock and Wellington increasing or initiating positions. Analysts maintain a “Moderate Buy” consensus, with an average price target of $28.94.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Susan Bobulsky sold 6,444 shares of the company's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $30.00, for a total transaction of $193,320.00. Following the completion of the transaction, the insider directly owned 389,350 shares of the company's stock, valued at approximately $11,680,500. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 15th, Susan Bobulsky sold 1,195 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $27.00, for a total value of $32,265.00.
• 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 value 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 value of $31,176.00.

Adaptive Biotechnologies Stock Down 0.7%

NASDAQ ADPT traded down $0.19 during mid-day trading on Thursday, reaching $26.09. 2,640,218 shares of the company's stock traded hands, compared to its average volume of 2,314,965. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $30.74. The company has a fifty day simple moving average of $25.94 and a 200-day simple moving average of $19.94. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. The company has a market cap of $4.16 billion, a price-to-earnings ratio of -63.63 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (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 during the quarter, compared to analyst estimates of $65.44 million. During the same period in the previous year, the company earned ($0.17) earnings per share. The business's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently made changes to their positions in ADPT. BlackRock Inc. bought a new position in Adaptive Biotechnologies during the second quarter worth $324,735,000. Wellington Management Group LLP increased its stake 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 purchasing an additional 2,053,944 shares during the last quarter. Bank of America Corp DE bought a new stake in Adaptive Biotechnologies during the second quarter valued at $37,109,000. Principal Financial Group Inc. raised its holdings in shares of Adaptive Biotechnologies by 9.8% during the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company's stock worth $23,664,000 after purchasing an additional 152,378 shares during the period. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of Adaptive Biotechnologies during the first quarter worth $17,930,000. 99.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ADPT shares. Piper Sandler upped their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a report on Tuesday, August 4th. TD Cowen raised their price objective on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Morgan Stanley boosted their target price on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Guggenheim upped their target price on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, October 1st. Finally, National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a research report on Tuesday, September 22nd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.94.

Adaptive Biotechnologies Company Profile

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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