Key Points
- Insider selling: Adaptive Biotechnologies insider Sharon Benzeno sold 154,768 shares on June 29 at an average price of $21.14, totaling about $3.27 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and her stake fell 41.16%.
- Stock and earnings update: ADPT opened at $21.45 and has traded near its 12-month high of $21.64, far above its 50-day and 200-day moving averages. The company recently beat quarterly EPS and revenue estimates, with revenue rising 35.1% year over year.
- Analyst sentiment remains positive: Wall Street analysts currently view the stock as a Moderate Buy, with an average price target of $20.50. Several firms recently raised or lowered targets, but five analysts still rate the stock a Buy.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Sharon Benzeno sold 11,034 shares of the company's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $21.00, for a total transaction of $231,714.00. Following the sale, the insider directly owned 272,751 shares in the company, valued at $5,727,771. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sharon Benzeno also recently made the following trade(s):
- On Monday, June 29th, Sharon Benzeno sold 154,768 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $21.14, for a total transaction of $3,271,795.52.
Adaptive Biotechnologies Price Performance
Adaptive Biotechnologies stock opened at $21.45 on Wednesday. The firm has a market capitalization of $3.43 billion, a PE ratio of -65.00 and a beta of 2.15. The company's 50-day moving average is $15.66 and its 200-day moving average is $15.74. Adaptive Biotechnologies Corporation has a fifty-two week low of $9.96 and a fifty-two week high of $21.64.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The company had revenue of $70.87 million for the quarter, compared to analysts' expectations of $61.03 million. During the same period in the prior year, the firm earned ($0.20) EPS. Adaptive Biotechnologies's quarterly revenue was up 35.1% compared to the same quarter last year. As a group, analysts expect that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Morgan Stanley dropped their price target on Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 12th. TD Cowen raised their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. BTIG Research reaffirmed a "buy" rating and set a $22.00 price objective on shares of Adaptive Biotechnologies in a research report on Wednesday, June 17th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Monday, April 20th. Five investment 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.50.
View Our Latest Stock Report on ADPT
Hedge Funds Weigh In On Adaptive Biotechnologies
Several institutional investors and hedge funds have recently made changes to their positions in ADPT. Caitong International Asset Management Co. Ltd bought a new position in shares of Adaptive Biotechnologies during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company's stock valued at $38,000 after purchasing an additional 1,565 shares during the period. Assetmark Inc. grew its holdings in Adaptive Biotechnologies by 867.9% in the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company's stock valued at $49,000 after buying an additional 2,708 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Adaptive Biotechnologies in the 4th quarter valued at $51,000. Finally, Strive Financial Group LLC bought a new position in Adaptive Biotechnologies during the 4th quarter worth $52,000. Institutional investors and hedge funds own 99.17% of the company's stock.
Adaptive Biotechnologies Company Profile
(
Get Free Report)
Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.
The company's flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.
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