Key Points
- Insider Susan Bobulsky sold 6,444 ADPT shares at an average price of $30, generating $193,320; the transaction was made under a pre-arranged Rule 10b5-1 plan, leaving her with 389,350 shares.
- Adaptive Biotechnologies reported quarterly revenue of $71.55 million, up 21.5% year over year and above estimates, but its adjusted loss of $0.25 per share missed the consensus estimate of $0.13.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $28.94, while institutional investors own 99.17% of the company’s shares.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) insider Susan Bobulsky sold 6,444 shares of the company's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $30.00, for a total value of $193,320.00. Following the sale, the insider owned 389,350 shares in the company, valued at approximately $11,680,500. This represents a 1.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Susan Bobulsky also recently made the following trade(s):
- On Tuesday, September 15th, Susan Bobulsky sold 1,195 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $27.00, for a total value of $32,265.00.
- On Monday, August 10th, Susan Bobulsky sold 3,000 shares of Adaptive Biotechnologies stock. The shares were 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.
Adaptive Biotechnologies Stock Performance
Shares of ADPT stock opened at $26.09 on Friday. The stock has a market cap of $4.16 billion, a P/E ratio of -63.63 and a beta of 2.09. 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 company has a fifty day moving average price of $25.98 and a two-hundred day moving average price of $20.03. Adaptive Biotechnologies Corporation has a one year low of $12.00 and a one year high of $30.74.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.12). The firm had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The business's revenue was up 21.5% on a year-over-year basis. During the same period last year, the business earned ($0.17) EPS. As a group, equities analysts predict that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current year.
Analyst Upgrades and Downgrades
ADPT has been the topic of several research analyst reports. TD Cowen upped their price objective on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. BTIG Research boosted their target price on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, September 22nd. National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a research note on Tuesday, September 22nd. Piper Sandler raised their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Finally, Morgan Stanley lifted their price objective on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Adaptive Biotechnologies presently has an average rating of "Moderate Buy" and a consensus price target of $28.94.
View Our Latest Stock Analysis on Adaptive Biotechnologies
Institutional Investors Weigh In On Adaptive Biotechnologies
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Adaptive Biotechnologies during the second quarter worth approximately $324,735,000. Wellington Management Group LLP increased its stake in shares of 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 purchasing an additional 2,053,944 shares during the period. Bank of America Corp DE acquired a new stake in Adaptive Biotechnologies during the 2nd quarter worth approximately $37,109,000. Principal Financial Group Inc. lifted its holdings in Adaptive Biotechnologies by 9.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company's stock worth $23,664,000 after purchasing an additional 152,378 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $18,912,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.
Adaptive Biotechnologies Company Profile
(
Get Free Report)
Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.
The company's product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.
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