Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Sells 1,698 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Harlan S. Robins sold 1,698 shares of Adaptive Biotechnologies stock in a transaction 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 transaction, the insider now owns 1,279,524 shares in the company, valued at approximately $11,515,716. The trade was a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Adaptive Biotechnologies Stock Performance

Shares of ADPT traded down $0.18 during midday trading on Wednesday, hitting $8.24. 1,825,043 shares of the company traded hands, compared to its average volume of 1,451,206. The firm has a 50 day moving average of $7.83 and a 200-day moving average of $6.30. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $9.01. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -7.56 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company posted ($0.30) earnings per share. Sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently bought and sold shares of ADPT. Intech Investment Management LLC bought a new stake in Adaptive Biotechnologies in the third quarter worth about $176,000. Charles Schwab Investment Management Inc. grew its stake in Adaptive Biotechnologies by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,743 shares of the company’s stock worth $4,694,000 after acquiring an additional 10,262 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Adaptive Biotechnologies by 58.7% during the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock valued at $3,555,000 after acquiring an additional 256,933 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth $177,000. Finally, FMR LLC grew its position in shares of Adaptive Biotechnologies by 102.0% during the 3rd quarter. FMR LLC now owns 233,566 shares of the company’s stock worth $1,196,000 after buying an additional 117,965 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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.