Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) CEO Sells 37,263 Shares of Stock
by Michael Walen · The Markets DailyAdaptive Biotechnologies Corporation (NASDAQ:ADPT – Get Free Report) CEO Chad Robins sold 37,263 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $15.19, for a total transaction of $566,024.97. Following the completion of the sale, the chief executive officer directly owned 2,180,518 shares in the company, valued at $33,122,068.42. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Adaptive Biotechnologies Stock Performance
Shares of ADPT traded up $1.13 during trading hours 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. The firm has a fifty day moving average price of $15.17 and a 200-day moving average price of $15.98. Adaptive Biotechnologies Corporation has a 52-week low of $6.77 and a 52-week high of $20.76. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -37.10 and a beta of 2.29.
Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) 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 business had revenue of $71.68 million for the quarter, compared to analysts’ expectations of $59.38 million. During the same quarter in the previous year, the company earned ($0.23) EPS. The business’s quarterly revenue was up 51.0% compared to the same quarter last year. Research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.
Institutional Trading of Adaptive Biotechnologies
Several institutional investors and hedge funds have recently made changes to their positions in ADPT. Caitong International Asset Management Co. Ltd acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at $28,000. Sound Income Strategies LLC acquired a new position in Adaptive Biotechnologies in the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC boosted its position in Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after buying an additional 1,565 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Adaptive Biotechnologies by 867.9% in the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after acquiring an additional 2,708 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Adaptive Biotechnologies during the 4th quarter valued at approximately $51,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ADPT has been the subject of a number of research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Adaptive Biotechnologies in a report on Friday, February 6th. Guggenheim upped their target price on Adaptive Biotechnologies from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, January 21st. 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 report on Friday, February 6th. Finally, Piper Sandler set a $21.00 price target on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. Seven investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.
Get Our Latest Stock Report on ADPT
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.