Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Sells 158,921 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 158,921 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $8.46, for a total value of $1,344,471.66. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at approximately $21,798,890.46. The trade was a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock traded down $0.04 during midday trading on Tuesday, hitting $8.30. 2,319,872 shares of the company’s stock were exchanged, compared to its average volume of 1,590,137. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95. The company has a market cap of $1.22 billion, a P/E ratio of -6.19 and a beta of 1.50. The stock has a 50-day moving average price of $7.05 and a two-hundred day moving average price of $5.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 110.13% and a negative return on equity of 62.06%. During the same quarter last year, the company posted ($0.30) EPS. As a group, sell-side analysts expect that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in Adaptive Biotechnologies by 89.9% in the 3rd quarter. SG Americas Securities LLC now owns 41,145 shares of the company’s stock valued at $211,000 after acquiring an additional 19,478 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Adaptive Biotechnologies by 30.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock worth $87,000 after acquiring an additional 4,000 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Adaptive Biotechnologies by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 28,364 shares of the company’s stock valued at $145,000 after purchasing an additional 11,050 shares in the last quarter. US Bancorp DE increased its holdings in shares of Adaptive Biotechnologies by 77.2% in the 3rd quarter. US Bancorp DE now owns 163,106 shares of the company’s stock worth $835,000 after buying an additional 71,065 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in Adaptive Biotechnologies by 1.7% during the third quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock worth $59,398,000 after acquiring an additional 189,134 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. BTIG Research boosted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Scotiabank raised their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average target price of $8.30.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.