Key Points
- CEO Chad Robins sold 124,998 shares at an average of $18.94 on Dec. 1 for $2.37M, trimming his stake by 4.41% to 2,709,241 shares (worth ≈$51.3M).
- Recent quarter: revenue rose 102.4% YoY to $93.97M and EPS was -$0.15 (slightly above estimates), but the company still has a negative net margin (~59%) and negative return on equity.
- Analyst and ownership backdrop: Institutional investors hold ~99.17% of shares; analysts have a consensus "Moderate Buy" rating with an average target of ~$17.11 and several firms raising targets up to $20.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) CEO Chad Robins sold 35,736 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.68, for a total value of $703,284.48. Following the completion of the sale, the chief executive officer directly owned 2,834,239 shares of the company's stock, valued at $55,777,823.52. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Adaptive Biotechnologies Trading Down 4.4%
Shares of ADPT stock opened at $18.79 on Tuesday. The firm has a market capitalization of $2.87 billion, a P/E ratio of -22.91 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 1 year low of $5.80 and a 1 year high of $20.76. The firm's fifty day simple moving average is $16.06 and its 200 day simple moving average is $13.02.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. During the same period last year, the business posted ($0.22) EPS. The business's quarterly revenue was up 102.4% on a year-over-year basis. Equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, November 6th. Wall Street Zen upgraded Adaptive Biotechnologies from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Guggenheim assumed coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 30th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, TD Cowen raised their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.11.
Read Our Latest Analysis on Adaptive Biotechnologies
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of ADPT. Ameriprise Financial Inc. lifted its holdings in shares of Adaptive Biotechnologies by 801.6% during the first quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company's stock valued at $49,355,000 after acquiring an additional 5,905,756 shares during the period. Braidwell LP bought a new position in Adaptive Biotechnologies during the 1st quarter valued at about $35,692,000. Iron Triangle Partners LP acquired a new position in Adaptive Biotechnologies in the first quarter valued at about $15,856,000. Arrowstreet Capital Limited Partnership boosted its position in Adaptive Biotechnologies by 544.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company's stock valued at $36,523,000 after buying an additional 2,062,282 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in Adaptive Biotechnologies by 154.4% during the first quarter. Driehaus Capital Management LLC now owns 2,152,335 shares of the company's stock worth $15,992,000 after buying an additional 1,306,164 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.
Adaptive Biotechnologies Company Profile
(
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.
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