Adaptive Biotechnologies (NASDAQ:ADPT) Stock: Insider Susan Bobulsky Sells 1,875 Shares

Key Points

• Insider Susan Bobulsky sold 1,875 Adaptive Biotechnologies shares at an average of $32 each, totaling $60,000. The sale was made under a pre-arranged Rule 10b5-1 plan; she retained 387,475 shares.
• The company reported quarterly EPS of $0.02, beating the $0.10-per-share loss analysts expected, and revenue of $83.9 million versus a $71.57 million consensus. Revenue nevertheless fell 10.7% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $30.31; shares were trading at $29.04 in Friday midday trading.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Susan Bobulsky sold 1,875 shares of the company's stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $32.00, for a total transaction of $60,000.00. Following the sale, the insider owned 387,475 shares of the company's stock, valued at approximately $12,399,200. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Tuesday, October 6th, Susan Bobulsky sold 6,444 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $30.00, for a total value of $193,320.00.
• 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.

Adaptive Biotechnologies Trading Down 1.5%

Shares of NASDAQ ADPT traded down $0.44 during midday trading on Friday, reaching $29.04. The company had a trading volume of 2,063,725 shares, compared to its average volume of 2,197,728. Adaptive Biotechnologies Corporation has a one year low of $12.00 and a one year high of $32.21. The company has a quick ratio of 3.87, a current ratio of 3.97 and a debt-to-equity ratio of 1.82. The firm's fifty day moving average price is $26.91 and its 200-day moving average price is $20.13. The stock has a market cap of $4.70 billion, a PE ratio of -64.53 and a beta of 2.18.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The company had revenue of $83.90 million during the quarter, compared to analysts' expectations of $71.57 million. During the same period in the prior year, the business posted $0.06 EPS. Adaptive Biotechnologies's quarterly revenue was down 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.24 earnings per share for the current year.

Institutional Trading of Adaptive Biotechnologies

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Adaptive Biotechnologies during the 2nd quarter valued at about $324,735,000. Wellington Management Group LLP raised its position in Adaptive Biotechnologies by 53.2% during the 2nd 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 position in Adaptive Biotechnologies during the 2nd quarter valued at approximately $37,109,000. Principal Financial Group Inc. lifted its holdings in Adaptive Biotechnologies by 9.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company's stock worth $23,664,000 after buying an additional 152,378 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $18,912,000. 99.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ADPT. TD Cowen boosted their price objective on Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, October 13th. Piper Sandler raised their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, September 22nd. Morgan Stanley upped their price target on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an "equal weight" rating in a report on Monday, October 12th. Finally, Guggenheim increased their price target on shares of Adaptive Biotechnologies from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of "Moderate Buy" and an average target price of $30.31.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.

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