A cluster of insider selling at Adaptive Biotechnologies has emerged in a two-week window ending July 2, 2026, totaling ~$5.5M in open-market sales. Three non-C-suite executives and one director sold shares clustered near the $20-$22 range, while the Chief People Officer exercised and then sold a large block (~$2.2M) in a typical same-day exercise-to-sell pattern. Total selling represents ~0.16% of the $3.4B market cap — modest in proportion — and no C-suite buying offsets the activity. The selling is concentrated in commercial officers and a director, not the CEO/CFO, and the exercise-linked sales are consistent with option expiration and tax planning rather than informational selling.
Price Chart
Executive Summary
A cluster of insider selling at Adaptive Biotechnologies has emerged in a two-week window ending July 2, 2026, totaling ~$5.5M in open-market sales. Three non-C-suite executives and one director sold shares clustered near the $20-$22 range, while the Chief People Officer exercised and then sold a large block (~$2.2M) in a typical same-day exercise-to-sell pattern. Total selling represents ~0.16% of the $3.4B market cap — modest in proportion — and no C-suite buying offsets the activity. The selling is concentrated in commercial officers and a director, not the CEO/CFO, and the exercise-linked sales are consistent with option expiration and tax planning rather than informational selling.
Key Financial Metrics
Key Facts
- Four separate insider selling events from June 25 to July 2, 2026, totaling ~$5.5M in open-market sales
- Chief Commercial Officer for Immune Medicine Sharon Benzeno sold $3.27M; Director Michelle Griffin sold $1.05M; Chief Commercial Officer for MRD Susan Bobulsky sold $114K; Chief People Officer Francis Lo sold $2.16M
- Lo's sales were all preceded by same-day option exercises at low strike prices ($0-$12.14), indicating a standard cashless exercise-to-cover/sell pattern, not a directional bearish bet
- No CEO or CFO participated in the selling cluster; total open-market selling is ~0.16% of the $3.4B market cap
- The stock is up significantly year-to-date and trades near $22, above the ~$8-$12 exercise prices of Lo's options, creating natural profit-taking incentive
Financial Impact
Total insider selling of ~$5.5M represents 0.16% of market cap — below the 0.5% threshold for significant cluster activity
Risk Factors
- Commercial officer selling does not carry the same predictive weight as CEO/CFO selling, but sustained insider distribution without any buying is a subtle negative
- Lo's large option exercises add ~100K shares to the float, creating modest overhang; continued unwinding could pressure the stock near-term
- The stock has rallied into this cluster (near $22 from sub-$15 earlier in 2026) — profit-taking by insiders who accumulated at lower prices could cap upside
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ADPT-1783382475074 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 144 | $26.28 | awaiting T+20 | — | $26.27 (−0.04%) |
Oct 5, 2026 21d ago | Insider Cluster | $26.90 | awaiting T+20 | — | $26.27 (−2.34%) |
Sep 25, 2026 4w ago | Press Release | $29.43 $25.51 | ▼ −13.32% | ▼ −11.84% | $26.27 (−10.74%) |
Sep 18, 2026 5w ago | Insider Cluster | $27.86 $23.95 | ▲ +14.03% | ▲ +13.13% | $26.27 (+5.71%) |
Aug 20, 2026 9w ago | Insider Cluster | $25.99 $27.86 | ▲ +7.20% | ▲ +7.72% | $26.27 (+1.08%) |
Aug 19, 2026 9w ago | Insider Cluster | $25.44 $28.55 | ▼ −12.22% | ▼ −12.22% | $26.27 (−3.26%) |
Aug 18, 2026 9w ago | 144 | $25.49 $26.68 | ▲ +4.67% | ▲ +6.19% | $26.27 (+3.06%) |
Aug 17, 2026 10w ago | 144 | $24.56 $27.67 | ▼ −12.66% | ▼ −13.97% | $26.27 (−6.96%) |
Jul 29, 2026 12w ago | Institutional Cluster | $24.18 $26.44 | ▼ −9.35% | ▼ −5.38% | $26.27 (−8.64%) |
Jul 23, 2026 13w ago | Insider Cluster | $22.27 $25.99 | ▲ +16.70% | ▲ +13.08% | $26.27 (+17.96%) |
US Market Status
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