Key Points
- Director Robert Hershberg sold 22,968 shares of Adaptive Biotechnologies on Dec. 10 at an average price of $16, cutting his stake by 32.96% to 46,722 shares (about $747,552).
- Q3 results beat revenue expectations: the company reported ($0.15) EPS vs. ($0.16) consensus and revenue of $93.97M vs. $58.76M (up 102.4% YoY), but remains unprofitable with negative net margin and return on equity.
- Analyst sentiment is mostly positive but mixed: MarketBeat shows a "Moderate Buy" consensus with an average target of $17.11 and several firms raising targets to $20–$21, while one shop (Weiss) maintains a sell rating; the stock trades within a 52-week range of $5.80–$20.76 and a $2.36B market cap.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) Director Robert Hershberg sold 22,968 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $16.00, for a total value of $367,488.00. Following the completion of the transaction, the director directly owned 46,722 shares in the company, valued at $747,552. This trade represents a 32.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Adaptive Biotechnologies Stock Performance
Shares of ADPT stock opened at $15.44 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of -28.59 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. The stock has a 50 day moving average price of $16.46 and a two-hundred day moving average price of $13.41.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping 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 the consensus estimate of $58.76 million. During the same period in the previous year, the firm earned ($0.22) earnings per share. The firm's revenue for the quarter was up 102.4% on a year-over-year basis. As a group, equities analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ADPT. JPMorgan Chase & Co. boosted their price objective on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, November 6th. Guggenheim began coverage on Adaptive Biotechnologies in a report on Tuesday, September 30th. They set a "buy" rating and a $20.00 price target on the stock. Morgan Stanley started coverage on Adaptive Biotechnologies in a research report on Monday, December 1st. They set an "equal weight" rating and a $21.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. Finally, BTIG Research lifted their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of "Moderate Buy" and an average price target of $17.11.
Check Out Our Latest Stock Report on Adaptive Biotechnologies
Hedge Funds Weigh In On Adaptive Biotechnologies
Institutional investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. bought a new stake in Adaptive Biotechnologies during the 3rd quarter valued at approximately $238,000. Harvest Investment Services LLC raised its position in shares of Adaptive Biotechnologies by 104.7% in the 3rd quarter. Harvest Investment Services LLC now owns 344,512 shares of the company's stock worth $5,154,000 after acquiring an additional 176,235 shares in the last quarter. Oberweis Asset Management Inc. lifted its stake in shares of Adaptive Biotechnologies by 23.3% in the 3rd quarter. Oberweis Asset Management Inc. now owns 726,500 shares of the company's stock valued at $10,868,000 after purchasing an additional 137,100 shares during the period. Castleark Management LLC bought a new stake in shares of Adaptive Biotechnologies during the third quarter valued at approximately $4,459,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Adaptive Biotechnologies by 17.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 30,469 shares of the company's stock valued at $456,000 after purchasing an additional 4,552 shares in the last quarter. 99.17% of the stock is owned by institutional investors.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
