Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Sells $72,033.60 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Kyle Piskel sold 10,320 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the transaction, the chief financial officer now owns 269,010 shares in the company, valued at approximately $1,877,689.80. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Adaptive Biotechnologies Stock Performance

ADPT stock opened at $7.35 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -6.74 and a beta of 1.53. The firm has a 50-day simple moving average of $7.55 and a two-hundred day simple moving average of $6.03. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate 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 business earned ($0.30) earnings per share. As a group, equities analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADPT has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. The Goldman Sachs Group increased their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. BTIG Research increased their price target on shares of 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 price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.10.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently modified their holdings of ADPT. Voya Investment Management LLC raised its position in shares of Adaptive Biotechnologies by 6,121.7% in the 4th quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company’s stock valued at $14,560,000 after purchasing an additional 2,389,674 shares during the last quarter. Soleus Capital Management L.P. raised its position in shares of 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 valued at $17,884,000 after purchasing an additional 1,870,393 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Adaptive Biotechnologies by 12.1% in 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 during the last quarter. Ameriprise Financial Inc. raised its position in shares of Adaptive Biotechnologies by 794.0% in the 4th quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company’s stock valued at $4,417,000 after purchasing an additional 654,309 shares during the last quarter. Finally, Clearline Capital LP purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at approximately $3,147,000. 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.