Key Points
- Insider sale: Harlan Robins sold 27,212 ADPT shares on Dec. 3 at an average price of $18.61 for $506,415, leaving him with 1,242,312 shares (a 2.14% reduction).
- Market and outlook: ADPT opened at $14.75 (down ~15.5%), reported revenue up 102% to $93.97M with a slight EPS beat, and analysts mostly rate the stock a "Moderate Buy" with price targets roughly $17–$21.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Harlan Robins sold 10,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $16.61, for a total value of $166,100.00. Following the completion of the transaction, the insider owned 1,232,312 shares in the company, valued at approximately $20,468,702.32. The trade was a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Adaptive Biotechnologies Stock Performance
Shares of NASDAQ ADPT opened at $14.75 on Friday. The stock's 50-day simple moving average is $16.36 and its 200-day simple moving average is $13.19. The firm has a market capitalization of $2.25 billion, a PE ratio of -27.31 and a beta of 2.20. Adaptive Biotechnologies Corporation has a fifty-two week low of $5.80 and a fifty-two week high of $20.76.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The company had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The firm's revenue was up 102.4% on a year-over-year basis. On average, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Adaptive Biotechnologies by 3.1% during the third quarter. Brighton Jones LLC now owns 23,301 shares of the company's stock worth $349,000 after buying an additional 700 shares during the period. Bouvel Investment Partners LLC increased its position in Adaptive Biotechnologies by 2.2% in the 3rd quarter. Bouvel Investment Partners LLC now owns 42,878 shares of the company's stock valued at $641,000 after acquiring an additional 904 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Adaptive Biotechnologies by 3.1% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 30,512 shares of the company's stock valued at $355,000 after acquiring an additional 910 shares during the last quarter. California State Teachers Retirement System lifted its position in Adaptive Biotechnologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company's stock worth $1,145,000 after acquiring an additional 933 shares during the period. Finally, Captrust Financial Advisors lifted its position in Adaptive Biotechnologies by 7.6% during the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company's stock worth $184,000 after acquiring an additional 1,119 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ADPT has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Morgan Stanley assumed coverage on shares of Adaptive Biotechnologies in a research note on Monday. They issued an "equal weight" rating and a $21.00 price objective for the company. Wall Street Zen raised Adaptive Biotechnologies from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. JPMorgan Chase & Co. boosted their target price on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday, November 6th. Finally, Guggenheim assumed coverage on Adaptive Biotechnologies in a research report on Tuesday, September 30th. They issued a "buy" rating and a $20.00 target price for the company. Eight investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.11.
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About Adaptive Biotechnologies
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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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