Key Points
- Adaptive Biotechnologies insider Francis Lo sold 115,406 shares for approximately $3.24 million at an average price of $28.06 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 34.32% to 220,867 shares.
- ADPT shares opened at $28.61, near their 52-week high of $28.72, with the company valued at roughly $4.57 billion. The company reported 21.5% year-over-year revenue growth but missed quarterly earnings expectations and remains unprofitable.
- Institutional investors own 99.17% of the stock, while analysts maintain a “Moderate Buy” consensus with an average price target of $24.42.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Francis Lo sold 115,406 shares of the firm's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $28.06, for a total value of $3,238,292.36. Following the completion of the transaction, the insider directly owned 220,867 shares of the company's stock, valued at approximately $6,197,528.02. This trade represents a 34.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Francis Lo also recently made the following trade(s):
- On Thursday, July 2nd, Francis Lo sold 44,838 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $22.59, for a total transaction of $1,012,890.42.
- On Wednesday, July 1st, Francis Lo sold 51,004 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $22.45, for a total transaction of $1,145,039.80.
Adaptive Biotechnologies Trading Up 0.2%
Shares of ADPT stock opened at $28.61 on Friday. The firm has a fifty day moving average of $24.36 and a 200-day moving average of $18.65. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of -69.78 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 52-week low of $12.00 and a 52-week high of $28.72. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The business had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. Adaptive Biotechnologies's revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share. On average, equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Adaptive Biotechnologies
Several institutional investors have recently added to or reduced their stakes in ADPT. BlackRock Inc. acquired a new position in Adaptive Biotechnologies in the second quarter valued at about $324,735,000. Wellington Management Group LLP grew its stake in Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock worth $126,799,000 after buying an additional 2,053,944 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Adaptive Biotechnologies during the fourth quarter worth about $65,942,000. Bank of America Corp DE acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth approximately $37,109,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Adaptive Biotechnologies by 9.8% during the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company's stock worth $23,664,000 after buying an additional 152,378 shares in the last quarter. 99.17% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
ADPT has been the topic of a number of recent research reports. Guggenheim lifted their price objective 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 increased their target price on Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. TD Cowen raised their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Piper Sandler boosted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley upped their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Five research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.42.
View Our Latest Stock Analysis on ADPT
About Adaptive Biotechnologies
(
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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