Key Points
- Susan Bobulsky sold 1,195 Adaptive Biotechnologies shares at an average price of $27, generating $32,265 under a pre-arranged Rule 10b5-1 plan. She continues to own 395,794 shares after the transaction.
- ADPT shares were trading near a one-year high at $28.55, up 3.2%, with a market capitalization of approximately $4.56 billion. The company’s latest revenue rose 21.5% year over year to $71.55 million, although its quarterly loss exceeded analyst expectations.
- Institutional investors own 99.17% of the stock, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $24.42.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Susan Bobulsky sold 1,195 shares of the firm's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $27.00, for a total value of $32,265.00. Following the transaction, the insider directly owned 395,794 shares of the company's stock, valued at $10,686,438. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Susan Bobulsky also recently made the following trade(s):
- On Monday, August 10th, Susan Bobulsky sold 3,000 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.00, for a total transaction of $75,000.00.
- On Thursday, July 30th, Susan Bobulsky sold 1,299 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $24.00, for a total transaction of $31,176.00.
- On Wednesday, July 1st, Susan Bobulsky sold 487 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $22.00, for a total transaction of $10,714.00.
Adaptive Biotechnologies Trading Up 3.2%
Shares of NASDAQ ADPT opened at $28.55 on Friday. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $28.72. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. The firm has a 50-day moving average of $24.21 and a 200 day moving average of $18.58. The stock has a market cap of $4.56 billion, a P/E ratio of -69.63 and a beta of 2.09.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The business had revenue of $71.55 million during the quarter, compared to analysts' expectations of $65.44 million. During the same quarter last year, the company posted ($0.17) EPS. Adaptive Biotechnologies's revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of ADPT. BlackRock Inc. bought a new stake in shares of Adaptive Biotechnologies in the second quarter worth approximately $324,735,000. Westfield Capital Management Co. LP bought a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth $65,942,000. Wellington Management Group LLP grew its stake in shares of Adaptive Biotechnologies by 53.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock valued at $126,799,000 after purchasing an additional 2,053,944 shares during the period. Bank of America Corp DE purchased a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $37,109,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in shares of Adaptive Biotechnologies in the fourth quarter worth approximately $26,801,000. Hedge funds and other institutional investors own 99.17% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ADPT. Morgan Stanley lifted their price objective on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Guggenheim raised their price target on Adaptive Biotechnologies from $22.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, July 30th. BTIG Research lifted their price target on Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Piper Sandler upped their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Finally, TD Cowen increased their price objective on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.42.
Read Our Latest Report on ADPT
Adaptive Biotechnologies Company Profile
(
Get Free Report)
Adaptive Biotechnologies Corp. (NASDAQ: ADPT) is a biotechnology company focused on applying immune-system data to the diagnosis and treatment of disease. The company develops technologies that decode T-cell and B-cell receptors, helping researchers and clinicians analyze the adaptive immune response at the scale of individual immune cells.
Its key products include clonoSEQ, a clinical diagnostic test that measures minimal residual disease in certain blood cancers, including multiple myeloma and acute lymphoblastic leukemia.
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