Adaptive Biotechnologies (NASDAQ:ADPT) Shares Gap Down on Insider Selling

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $17.46, but opened at $16.16. Adaptive Biotechnologies shares last traded at $17.3070, with a volume of 1,548,077 shares changing hands.

Specifically, insider Susan Bobulsky sold 5,000 shares of Adaptive Biotechnologies stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $19.00, for a total value of $95,000.00. Following the completion of the sale, the insider owned 411,775 shares in the company, valued at approximately $7,823,725. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Guggenheim reiterated a “buy” rating and set a $21.00 price objective on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Morgan Stanley dropped their target price on shares of Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. BTIG Research reiterated a “buy” rating and issued a $22.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Six 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Adaptive Biotechnologies Price Performance

The business’s fifty day simple moving average is $14.62 and its 200 day simple moving average is $15.63. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -53.15 and a beta of 2.16.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The company had revenue of $70.87 million for the quarter, compared to analysts’ expectations of $61.03 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The firm’s revenue was up 35.1% compared to the same quarter last year. As a group, equities analysts forecast that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its holdings in Adaptive Biotechnologies by 84.3% in the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock worth $89,337,000 after acquiring an additional 2,731,648 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Adaptive Biotechnologies by 303.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock valued at $71,252,000 after purchasing an additional 3,299,635 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $65,942,000. Geode Capital Management LLC raised its position in shares of Adaptive Biotechnologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company’s stock worth $57,041,000 after purchasing an additional 110,825 shares during the period. Finally, State Street Corp lifted its holdings in shares of Adaptive Biotechnologies by 3.3% in the 4th quarter. State Street Corp now owns 3,181,644 shares of the company’s stock worth $51,670,000 after purchasing an additional 102,362 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.