Insider Selling: 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 stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $21,901,958.50. This trade represents a 7.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $8.37 on Thursday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -7.68 and a beta of 1.50. The stock’s fifty day moving average price is $7.12 and its two-hundred day moving average price is $5.73. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm earned ($0.30) EPS. On average, equities analysts predict that Adaptive Biotechnologies Co. will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ADPT. SG Americas Securities LLC boosted its stake in Adaptive Biotechnologies by 89.9% in the third quarter. SG Americas Securities LLC now owns 41,145 shares of the company’s stock valued at $211,000 after acquiring an additional 19,478 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Adaptive Biotechnologies by 30.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock valued at $87,000 after purchasing an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Adaptive Biotechnologies by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 28,364 shares of the company’s stock worth $145,000 after purchasing an additional 11,050 shares during the period. US Bancorp DE increased its holdings in Adaptive Biotechnologies by 77.2% in the third quarter. US Bancorp DE now owns 163,106 shares of the company’s stock valued at $835,000 after purchasing an additional 71,065 shares during the last quarter. Finally, ARK Investment Management LLC lifted its stake in Adaptive Biotechnologies by 1.7% in the third quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock valued at $59,398,000 after buying an additional 189,134 shares during the period. Institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ADPT shares. Piper Sandler upped their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. BTIG Research lifted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Scotiabank increased their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and an average 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.