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SEATTLE—Julie Rubinstein, President and COO of Adaptive Biotechnologies Corp (NASDAQ:ADPT), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On March 5, Rubinstein sold a total of 59,505 shares of common stock, generating approximately $415,539. The sales were made at prices ranging from $6.98 to $6.99 per share. The stock, which has shown significant volatility according to InvestingPro data, is currently trading at $7.77, having delivered an impressive 125% return over the past year.
These transactions were conducted to cover tax withholding obligations related to the vesting of restricted stock units, as mandated by the company’s equity incentive plans. Following these sales, Rubinstein retains direct ownership of 588,249 shares in the company.
Adaptive Biotechnologies, based in Seattle, is a life sciences company specializing in the development of immune-driven medical products. With an overall Financial Health score of "FAIR" from InvestingPro, the company operates with moderate debt levels and currently appears fairly valued based on InvestingPro’s Fair Value analysis. Discover 10+ additional exclusive insights and detailed analysis available through InvestingPro’s comprehensive research report.
In other recent news, Adeptus Biotechnologies Corp. reported robust fourth-quarter results, surpassing analyst expectations with a revenue of $47.5 million, which marks a 4% increase year-over-year. The company’s adjusted loss per share was $0.23, narrower than the anticipated $0.25 loss. The Minimal Residual Disease (MRD) business was a significant contributor, making up 85% of the quarter’s revenue and growing 31% year-over-year to $40.1 million. However, the Immune Medicine segment saw a decline, with revenue falling 51% to $7.3 million.
Looking ahead to 2025, Adeptus projects MRD business revenue between $175 million and $185 million, with operating expenses estimated at $340-$350 million and a cash burn of $60-$70 million. In light of these developments, Scotiabank (TSX:BNS) analyst Sung Ji Nam raised Adeptus Biotechnologies’ price target from $10.00 to $12.00, maintaining a Sector Outperform rating. The analyst cited the company’s strong finish to fiscal year 2024 and the growth potential of its MRD business as key reasons for the adjustment. Adeptus aims to achieve MRD adjusted EBITDA profitability in the second half of 2025 and reach cash flow breakeven in the first half of 2026.
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