Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins Sells 211,160 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 211,160 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total value of $1,794,860.00. 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 $21,901,958.50. This trade represents a 7.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $8.30 on Wednesday. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $8.95. The firm has a 50 day simple moving average of $7.05 and a 200-day simple moving average of $5.68. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -6.19 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping 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 in the previous year, the company posted ($0.30) EPS. On average, equities analysts expect that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADPT. The Goldman Sachs Group raised their price objective 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. BTIG Research boosted their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Scotiabank upped their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Finally, Piper Sandler lifted their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies in the third quarter worth approximately $34,000. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at $50,000. GAMMA Investing LLC purchased a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $59,000. Cibc World Markets Corp purchased a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $65,000. Finally, Townsquare Capital LLC acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth $56,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.