Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 8.2% – Time to Sell?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) shares traded down 8.2% during mid-day trading on Friday . The company traded as low as $7.51 and last traded at $7.55. 1,015,272 shares traded hands during trading, a decline of 31% from the average session volume of 1,472,465 shares. The stock had previously closed at $8.22.

Wall Street Analyst Weigh In

Several research firms recently commented on ADPT. The Goldman Sachs Group upgraded shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $8.00 to $9.00 in a research report on Friday, March 21st. Scotiabank upped their target price 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. BTIG Research raised their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler reissued an “overweight” rating and issued a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Buy” and a consensus target price of $9.40.

Adaptive Biotechnologies Trading Down 6.7 %

The stock has a fifty day simple moving average of $7.89 and a two-hundred day simple moving average of $6.37. The company has a market cap of $1.14 billion, a PE ratio of -7.04 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly 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 64.65% and a negative net margin of 89.12%. During the same period in the prior year, the firm earned ($0.30) EPS. As a group, equities research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Hershberg sold 53,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now owns 69,690 shares in the company, valued at $528,947.10. This represents a 43.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Chad M. Robins sold 158,921 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.46, for a total value of $1,344,471.66. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,798,890.46. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 757,601 shares of company stock worth $6,040,624 in the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of ADPT. Intech Investment Management LLC acquired a new position in Adaptive Biotechnologies in the third quarter valued at $176,000. Charles Schwab Investment Management Inc. boosted its position in shares of Adaptive Biotechnologies by 1.1% in the third 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 during the last quarter. Cerity Partners LLC grew its holdings in Adaptive Biotechnologies by 58.7% in the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock valued at $3,555,000 after purchasing an additional 256,933 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter worth $177,000. Finally, FMR LLC increased its stake in Adaptive Biotechnologies by 102.0% during the third quarter. FMR LLC now owns 233,566 shares of the company’s stock worth $1,196,000 after acquiring an additional 117,965 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.