EU and US could reach trade deal this weekend - Reuters
Michelle Renee Griffin, a director at Adaptive Biotechnologies Corp (NASDAQ:ADPT), reported a significant stock transaction this week. According to a recent SEC filing, Griffin sold 15,664 shares of common stock on March 6, 2025. The shares were sold at a weighted-average price of $7.94, resulting in a total transaction value of approximately $124,372. This sale was part of a Rule 10b5-1 trading plan adopted in November 2024. The transaction comes as the stock has shown remarkable strength, posting a 125% return over the past year. According to InvestingPro analysis, the company’s shares are currently trading near their Fair Value.
Additionally, on March 4, 2025, Griffin acquired 15,394 shares of common stock at no cost, as well as 23,726 stock options with an exercise price of $8.12. The options are set to vest in equal monthly installments over the next year, contingent upon Griffin’s continued service as a director. The company maintains a healthy financial position with a current ratio of 2.89, indicating strong liquidity to meet short-term obligations.
Following these transactions, Griffin holds 51,685 shares of Adaptive Biotechnologies’ common stock. Discover more insights about ADPT and access comprehensive analysis with InvestingPro, which offers 10+ additional ProTips and detailed financial metrics for informed investment decisions.
In other recent news, Adeptus Biotechnologies Corp. reported a strong finish to fiscal year 2024, surpassing expectations in several key areas. The company projects approximately 30% year-over-year growth in Minimal Residual Disease (MRD) revenue for 2025, with anticipated revenues between $175 and $185 million. This forecast is supported by increased average selling prices, expansion of blood-based testing, and strategic partnerships. Adeptus has also set a disciplined approach to operating expenses, aiming for only a low single-digit percentage increase, which is expected to reduce total cash burn by roughly 28%, falling between $60 and $70 million. The company’s cash reserves were reported at $256 million at the end of 2024.
Scotiabank (TSX:BNS) analyst Sung Ji Nam raised the price target for Adeptus Biotechnologies to $12.00 from $10.00, maintaining a Sector Outperform rating, reflecting confidence in the company’s growth trajectory and strategic initiatives. Meanwhile, Adaptive Biotechnologies Corporation reported fourth-quarter revenue of $47.5 million, exceeding analyst estimates of $46.15 million and marking a 4% year-over-year increase. The company’s MRD business, which constituted 85% of Q4 revenue, grew 31% year-over-year to $40.1 million. However, Immune Medicine revenue declined by 51% to $7.3 million. Adaptive’s adjusted loss per share was $0.23, better than the anticipated $0.25 loss, with the company ending 2024 with $256 million in cash and marketable securities.
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