Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Harlan S. Robins Sells 1,698 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Harlan S. Robins sold 1,698 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $9.00, for a total transaction of $15,282.00. Following the completion of the sale, the insider now directly owns 1,279,524 shares of the company’s stock, valued at $11,515,716. The trade was a 0.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Adaptive Biotechnologies Trading Down 2.1 %

Shares of ADPT traded down $0.18 during midday trading on Wednesday, hitting $8.24. 1,825,043 shares of the company’s stock traded hands, compared to its average volume of 1,451,206. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.56 and a beta of 1.53. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $9.01. The firm’s fifty day moving average is $7.83 and its 200-day moving average is $6.30.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period in the previous year, the firm earned ($0.30) earnings per share. On average, equities research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

ADPT has been the subject of a number of analyst reports. BTIG Research upped their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Piper Sandler restated an “overweight” rating and set a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. The Goldman Sachs Group raised Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $8.00 to $9.00 in a research report on Friday, March 21st. Finally, Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $9.40.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in Adaptive Biotechnologies by 1,060.5% during the 4th quarter. California State Teachers Retirement System now owns 97,388 shares of the company’s stock valued at $584,000 after purchasing an additional 88,996 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at $711,000. Voloridge Investment Management LLC acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter valued at $174,000. Soleus Capital Management L.P. raised its stake in Adaptive Biotechnologies by 168.1% in the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock worth $17,884,000 after acquiring an additional 1,870,393 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in Adaptive Biotechnologies by 265.3% in the 4th quarter. Squarepoint Ops LLC now owns 44,401 shares of the company’s stock worth $266,000 after acquiring an additional 32,247 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.