Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) CEO Sells 83,332 Shares of Stock
by Amy Steele · The Cerbat GemAdaptive Biotechnologies Corporation (NASDAQ:ADPT – Get Free Report) CEO Chad Robins sold 83,332 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $14.41, for a total transaction of $1,200,814.12. Following the completion of the transaction, the chief executive officer owned 2,217,781 shares of the company’s stock, valued at $31,958,224.21. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Adaptive Biotechnologies Stock Up 8.2%
NASDAQ:ADPT traded up $1.13 during midday trading on Wednesday, hitting $14.84. The company had a trading volume of 2,188,850 shares, compared to its average volume of 2,046,190. Adaptive Biotechnologies Corporation has a 52-week low of $6.77 and a 52-week high of $20.76. The stock’s fifty day moving average price is $15.17 and its 200-day moving average price is $15.98. The company has a market capitalization of $2.29 billion, a PE ratio of -37.10 and a beta of 2.29.
Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.10. Adaptive Biotechnologies had a negative net margin of 21.48% and a negative return on equity of 46.68%. The company had revenue of $71.68 million during the quarter, compared to analyst estimates of $59.38 million. During the same period in the previous year, the business earned ($0.23) earnings per share. The firm’s quarterly revenue was up 51.0% compared to the same quarter last year. As a group, research analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have issued reports on ADPT. Guggenheim upped their price target on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 26th. TD Cowen restated a “buy” rating on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. Wall Street Zen lowered shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, January 21st. Finally, BTIG Research upped their price target on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating, one has given 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 $18.25.
Read Our Latest Stock Report on ADPT
Institutional Trading of Adaptive Biotechnologies
A number of institutional investors have recently modified their holdings of ADPT. Caitong International Asset Management Co. Ltd bought a new position in Adaptive Biotechnologies in the fourth quarter worth about $28,000. Sound Income Strategies LLC bought a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth about $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after buying an additional 1,565 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Adaptive Biotechnologies by 867.9% in the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after buying an additional 2,708 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth about $51,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.
Adaptive Biotechnologies Company Profile
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.