10 Stocks Insiders Are Selling In March

3. Adaptive Biotechnologies Corporation (NASDAQ:ADPT)

Number of Insiders Selling: 10

Market Capitalization: $1.08 billion

The third among the 10 stocks insiders are getting rid of in March is a commercial-stage biotech, Adaptive Biotechnologies. The Seattle, Washington-based company is focused on the development of an immune medicine platform for the diagnosis and treatment of various diseases.

Recently, the company announced it has launched an upgraded version of its clonoSEQ assay for measurable residual disease (MRD) detection in diffuse large B-cell lymphoma (DLBCL) using circulating tumor DNA (ctDNA). The enhanced clonoSEQ assay, which incorporates an optimized DNA extraction methodology and maximizes sample input, delivers a 7-fold increase in sensitivity.

The Centers for Medicare Centers for Medicare & Medicaid Services recently set a favorable reimbursement rate of $2,007 for the company’s clonoSEQ test.

Revenue for the fourth quarter and full year 2024 was $47.5 million and $179.0 million, respectively. The MRD business, which contributed 85% of revenue in the fourth quarter and 81% of revenue in the full year, grew 31% and 42% over the corresponding periods a year ago. Net loss was $159.6 million in 2024, compared to $225.3 million in 2023. Adjusted EBITDA (non-GAAP) was a loss of $80.4 million for 2024, compared to a loss of $116.4 million in the prior year. Cash, cash equivalents and marketable securities were $256.0 million as of December 31, 2024.

In March, 10 insiders, including the company’s CEO, COO, and CFO sold a total of close to $4 million worth of Adaptive Biotechnologies shares at an average price of $7.11 per share. The stock gained 21.33% since the beginning of the year, and is currently trading at $7.28. Over the past 12 months, Adaptive Biotechnologies shares returned 21.33% to its investors.

Five analysts have given a “Moderate Buy” rating to Adaptive Biotechnologies stock with an average price target of $9.10, according to MarketBeat.