Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Sells $1,794,860.00 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 211,160 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was 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 in the company, valued at approximately $21,901,958.50. The trade was a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Adaptive Biotechnologies Trading Down 0.4 %

ADPT traded down $0.04 during 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 1 year low of $2.28 and a 1 year high of $8.95. The stock has a 50 day moving average price of $7.05 and a 200 day moving average price of $5.68. The firm has a market cap of $1.22 billion, a P/E ratio of -6.19 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates 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 business posted ($0.30) earnings per share. Analysts forecast that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of large investors have recently modified their holdings of the stock. Rubric Capital Management LP boosted its holdings in Adaptive Biotechnologies by 2.9% in the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock worth $73,728,000 after acquiring an additional 400,000 shares during the period. ARK Investment Management LLC lifted its position in shares of 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 purchasing an additional 189,134 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Adaptive Biotechnologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock valued at $64,236,000 after purchasing an additional 75,448 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Adaptive Biotechnologies by 12.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after purchasing an additional 834,253 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Adaptive Biotechnologies by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock worth $20,209,000 after buying an additional 489,555 shares during the period. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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