Key Points
- Insider sale: Adaptive Biotechnologies insider Harlan Robins sold 386,240 shares for about $8.5 million at an average price of $22.01, reducing his stake by 27.47%. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- Stock and business update: ADPT shares were down 3.2% and opened at $20.82, near the stock’s 12-month high of $22.80. The company has a market cap of $3.33 billion and remains well above its 50-day and 200-day moving averages.
- Recent performance and outlook: Adaptive Biotechnologies beat Q1 earnings and revenue expectations, posting EPS of -$0.13 versus -$0.16 expected and revenue of $70.87 million, up 35.1% year over year. Analysts currently have a Moderate Buy consensus with an average price target of $20.50.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Harlan Robins sold 386,240 shares of Adaptive Biotechnologies stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $22.01, for a total transaction of $8,501,142.40. Following the transaction, the insider owned 1,019,658 shares in the company, valued at $22,442,672.58. The trade was a 27.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Adaptive Biotechnologies Trading Down 3.2%
Shares of NASDAQ ADPT opened at $20.82 on Wednesday. Adaptive Biotechnologies Corporation has a 12-month low of $9.96 and a 12-month high of $22.80. The company has a market cap of $3.33 billion, a P/E ratio of -63.09 and a beta of 2.07. The stock has a fifty day moving average price of $16.38 and a 200 day moving average price of $15.94.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The company had revenue of $70.87 million for the quarter, compared to analyst estimates of $61.03 million. During the same period last year, the company posted ($0.20) earnings per share. The firm's revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current fiscal year.
Institutional Investors Weigh In On Adaptive Biotechnologies
A number of hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its position in shares of Adaptive Biotechnologies by 84.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock valued at $89,337,000 after purchasing an additional 2,731,648 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Adaptive Biotechnologies by 303.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company's stock worth $71,252,000 after buying an additional 3,299,635 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth $65,942,000. Geode Capital Management LLC raised its holdings in Adaptive Biotechnologies by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company's stock valued at $57,041,000 after acquiring an additional 110,825 shares in the last quarter. Finally, State Street Corp raised its holdings in Adaptive Biotechnologies by 3.3% in the fourth quarter. State Street Corp now owns 3,181,644 shares of the company's stock valued at $51,670,000 after acquiring an additional 102,362 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on ADPT. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. JPMorgan Chase & Co. dropped their price objective on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. Morgan Stanley reduced their target price on shares of Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Guggenheim upped their target price on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Finally, BTIG Research reaffirmed a "buy" rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. Five equities 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.50.
View Our Latest Stock Analysis on Adaptive Biotechnologies
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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