Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins Sells 158,921 Shares

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

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT traded down $0.04 during trading hours on Tuesday, hitting $8.30. 2,319,872 shares of the stock were exchanged, compared to its average volume of 1,590,137. The company’s fifty day simple moving average is $7.05 and its two-hundred day simple moving average is $5.68. The company has a market cap of $1.22 billion, a PE ratio of -6.19 and a beta of 1.50. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $8.95.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $711,000. Voloridge Investment Management LLC bought a new position in Adaptive Biotechnologies in the 4th quarter valued at approximately $174,000. Soleus Capital Management L.P. boosted its position in Adaptive Biotechnologies by 168.1% during the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock worth $17,884,000 after buying an additional 1,870,393 shares during the period. Squarepoint Ops LLC grew its holdings in Adaptive Biotechnologies by 265.3% during 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. Finally, Two Sigma Advisers LP increased its position in Adaptive Biotechnologies by 396.2% in the 4th quarter. Two Sigma Advisers LP now owns 51,600 shares of the company’s stock valued at $309,000 after acquiring an additional 41,200 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.