Key Points
- Insider selling: Director Sharon Benzeno sold 297,925 shares on Nov 20 (avg $16.54) and 308,477 shares on Nov 21 (avg $16.91), reducing her stake by ~50.1% and raising roughly $10.1 million in proceeds.
- Quarterly results: Adaptive reported revenue of $93.97M (vs. $58.76M est.), a 102.4% year‑over‑year increase, while EPS remained negative at ($0.15) though slightly beating estimates.
- Market and analyst reaction: Shares rose about 9.9% to $20.46 near a 12‑month high as multiple firms raised price targets, leaving a consensus rating of "Moderate Buy" with an average target around $16.56.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Sharon Benzeno sold 297,925 shares of the business's stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $16.54, for a total value of $4,927,679.50. Following the sale, the insider owned 296,791 shares in the company, valued at approximately $4,908,923.14. This represents a 50.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Sharon Benzeno also recently made the following trade(s):
- On Friday, November 21st, Sharon Benzeno sold 308,477 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $16.91, for a total value of $5,216,346.07.
Adaptive Biotechnologies Stock Up 9.9%
Shares of ADPT opened at $20.46 on Tuesday. The firm has a market capitalization of $3.12 billion, a PE ratio of -24.95 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 12-month low of $4.76 and a 12-month high of $20.65. The stock's fifty day simple moving average is $15.43 and its 200-day simple moving average is $12.66.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The firm had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The company's quarterly revenue was up 102.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. Analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC bought a new position in shares of Adaptive Biotechnologies in the 3rd quarter worth about $30,000. Smartleaf Asset Management LLC boosted its stake in shares of Adaptive Biotechnologies by 593.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company's stock worth $59,000 after acquiring an additional 3,371 shares during the last quarter. Blair William & Co. IL bought a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at approximately $84,000. Candriam S.C.A. bought a new stake in Adaptive Biotechnologies during the first quarter valued at about $90,000. Finally, Caxton Associates LLP bought a new stake in shares of Adaptive Biotechnologies during the first quarter valued at approximately $93,000. 99.17% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on ADPT shares. JPMorgan Chase & Co. raised their price target on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, November 6th. Morgan Stanley boosted their price objective on shares of Adaptive Biotechnologies from $11.00 to $16.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 11th. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Adaptive Biotechnologies from a "hold" rating to a "buy" rating in a research note on Saturday, November 8th. Finally, Piper Sandler increased their price objective on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, October 15th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $16.56.
Read Our Latest Analysis on ADPT
About Adaptive Biotechnologies
(
Get Free Report)
Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.
Further Reading
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