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 on Tuesday, October 6th. The stock was sold at an average price of $30.00, for a total value of $193,320.00. Following the sale, the insider directly owned 389,350 shares in the company, valued at $11,680,500. The trade was a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was 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 Trading Down 0.7%

NASDAQ:ADPT opened at $26.09 on Friday. The business’s 50-day simple moving average is $25.98 and its 200-day simple moving average is $20.03. Adaptive Biotechnologies Corporation has a fifty-two week low of $12.00 and a fifty-two week 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 stock has a market capitalization of $4.16 billion, a PE ratio of -63.63 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The company had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) EPS. Sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADPT has been the subject of a number of research analyst reports. Guggenheim upped their target price on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a research note on Tuesday, September 22nd. BTIG Research boosted their price target on Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. Finally, Morgan Stanley increased their price objective on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.94.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Adaptive Biotechnologies in the second quarter valued at $324,735,000. Wellington Management Group LLP lifted its position in Adaptive Biotechnologies by 53.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock worth $126,799,000 after buying an additional 2,053,944 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth about $37,109,000. Principal Financial Group Inc. boosted its stake in shares of Adaptive Biotechnologies by 9.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock worth $23,664,000 after buying an additional 152,378 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at about $18,912,000. Institutional investors own 99.17% of the company’s stock.

About Adaptive Biotechnologies

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.