Adaptive Biotechnologies (NASDAQ:ADPT) Insider Susan Bobulsky Sells 6,444 Shares of Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Susan Bobulsky sold 6,444 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $30.00, for a total transaction of $193,320.00. Following the completion of the transaction, the insider directly owned 389,350 shares in the company, valued at $11,680,500. This represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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 value of $31,176.00.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT traded down $0.19 during mid-day trading on Thursday, hitting $26.09. The company had a trading volume of 2,640,218 shares, compared to its average volume of 2,314,965. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of -63.63 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 12 month low of $12.00 and a 12 month high of $30.74. 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’s 50 day simple moving average is $25.94 and its two-hundred day simple moving average is $19.94.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The company 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%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ADPT shares. Morgan Stanley upped their price target 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. TD Cowen lifted 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. National Bank Financial set a $34.00 target price on shares of Adaptive Biotechnologies in a research note on Tuesday, September 22nd. The Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 29th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Six equities 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Adaptive Biotechnologies during the second quarter valued at $324,735,000. Wellington Management Group LLP lifted its holdings in Adaptive Biotechnologies by 53.2% in 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 bought a new position in Adaptive Biotechnologies in the 2nd quarter valued at about $37,109,000. Principal Financial Group Inc. grew its position in Adaptive Biotechnologies by 9.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock valued at $23,664,000 after buying an additional 152,378 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Adaptive Biotechnologies during the 2nd quarter valued at about $18,912,000. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.