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

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) gapped down prior to trading on Tuesday following insider selling activity. 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 traded.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Guggenheim reiterated a “buy” rating and issued a $21.00 price target on shares of Adaptive Biotechnologies in a research report on Wednesday, May 6th. TD Cowen raised their price objective on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley dropped their price objective on shares of Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Six research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Adaptive Biotechnologies Trading Up 0.3%

The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -53.15 and a beta of 2.16. The company’s 50 day simple moving average is $14.62 and its 200-day simple moving average is $15.63.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $70.87 million during the quarter, compared to the consensus estimate of $61.03 million. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.Adaptive Biotechnologies’s revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.20) EPS. Sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1492 Capital Management LLC acquired a new position in Adaptive Biotechnologies in the 4th quarter worth $1,484,000. UBS Group AG grew its stake in shares of Adaptive Biotechnologies by 101.6% during the fourth quarter. UBS Group AG now owns 511,927 shares of the company’s stock valued at $8,314,000 after acquiring an additional 257,947 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Adaptive Biotechnologies by 33.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 362,811 shares of the company’s stock worth $5,892,000 after acquiring an additional 91,683 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Adaptive Biotechnologies by 103.9% in the fourth quarter. Jennison Associates LLC now owns 2,674,668 shares of the company’s stock worth $43,437,000 after acquiring an additional 1,363,181 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB boosted its holdings in Adaptive Biotechnologies by 22.2% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 605,000 shares of the company’s stock valued at $9,825,000 after purchasing an additional 110,000 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

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.