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SEATTLE—Harlan S. Robins, Chief Scientific Officer at Adaptive Biotechnologies Corp (NASDAQ:ADPT), recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On March 24, Robins sold 1,698 shares of common stock at a weighted-average price of $9.00 per share, totaling $15,282. The transaction comes as ADPT shares have shown remarkable momentum, delivering a 186% return over the past year, according to InvestingPro data.
The transactions were part of a Rule 10b5-1 trading plan adopted by Robins on August 26, 2024. In conjunction with the sale, Robins also exercised stock options to acquire 1,698 shares at a price of $6.32 per share, which were subsequently sold on the same day. Following these transactions, Robins’ direct ownership stands at 1,279,524 shares. The company, currently valued at $1.2 billion, maintains strong liquidity with a current ratio of 2.89x, though InvestingPro analysis indicates the stock is trading near its Fair Value.
Adaptive Biotechnologies, based in Seattle, is known for its work in biological products, excluding diagnostic substances. The company’s stock is listed on the NASDAQ under the ticker ADPT. Discover 12 additional key insights about ADPT and access comprehensive financial analysis through InvestingPro’s detailed research reports.
In other recent news, Adaptive Biotechnologies Corporation reported its fourth-quarter results, surpassing analyst expectations with a revenue of $47.5 million, a 4% increase year-over-year. The company’s adjusted loss per share was $0.23, which was better than the anticipated $0.25 loss. The Minimal Residual Disease (MRD) business, a significant part of Adaptive’s operations, saw a 31% year-over-year revenue growth, reaching $40.1 million in the fourth quarter. However, the Immune Medicine segment experienced a 51% decline in revenue, totaling $7.3 million.
Looking forward to 2025, Adaptive projects MRD business revenue between $175 million and $185 million, with total operating expenses expected to be $340-$350 million and a cash burn of $60-$70 million. Goldman Sachs recently upgraded Adaptive’s stock rating to Buy, with a new price target of $9, citing the company’s efforts to control cash burn and its position in the MRD market. Scotiabank (TSX:BNS) also raised its price target for Adaptive to $12 while maintaining a Sector Outperform rating, reflecting confidence in the company’s growth potential and strategic initiatives.
Scotiabank highlighted Adaptive’s strong 2024 finish, noting the company’s disciplined approach to operating expenses and its transition to the NovaSeq X platform. These recent developments indicate a positive outlook from analysts on Adaptive Biotechnologies’ future prospects.
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