Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Sells $836,463.08 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 99,107 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.44, for a total transaction of $836,463.08. Following the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $21,747,356.44. The trade was a 3.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Adaptive Biotechnologies Stock Down 0.7 %

NASDAQ:ADPT opened at $8.27 on Friday. The company has a market capitalization of $1.22 billion, a PE ratio of -7.59 and a beta of 1.50. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95. The stock’s 50 day moving average price is $7.20 and its 200 day moving average price is $5.78.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter last year, the firm earned ($0.30) EPS. As a group, sell-side analysts anticipate that Adaptive Biotechnologies Co. will post -0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on ADPT shares. BTIG Research lifted their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Scotiabank increased 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 note on Thursday, February 13th. Finally, Piper Sandler restated an “overweight” rating and set a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and an average price target of $9.10.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in Adaptive Biotechnologies in the 3rd quarter valued at $34,000. KBC Group NV acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $50,000. GAMMA Investing LLC purchased a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth about $59,000. Cibc World Markets Corp purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at about $65,000. Finally, Townsquare Capital LLC acquired a new stake in Adaptive Biotechnologies during the 3rd quarter valued at $56,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

About Adaptive Biotechnologies

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.