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 on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Adaptive Biotechnologies Trading Down 0.5 %

Shares of ADPT opened at $8.33 on Friday. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95. The company has a market cap of $1.23 billion, a P/E ratio of -7.64 and a beta of 1.50. The company’s fifty day simple moving average is $7.16 and its 200-day simple moving average is $5.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 period in the prior year, the company earned ($0.30) EPS. Analysts predict that Adaptive Biotechnologies Co. will post -0.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADPT. BTIG Research increased their price objective 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. Piper Sandler reiterated an “overweight” rating and set a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday. Scotiabank increased their price objective 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. Finally, The Goldman Sachs Group increased their price objective on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Adaptive Biotechnologies in the 4th quarter worth about $711,000. Voloridge Investment Management LLC purchased a new position in Adaptive Biotechnologies in the 4th quarter worth about $174,000. Soleus Capital Management L.P. increased its stake in 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 worth $17,884,000 after buying an additional 1,870,393 shares during the period. Squarepoint Ops LLC increased its stake in Adaptive Biotechnologies by 265.3% in the 4th quarter. Squarepoint Ops LLC now owns 44,401 shares of the company’s stock worth $266,000 after buying an additional 32,247 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Adaptive Biotechnologies by 396.2% in the 4th quarter. Two Sigma Advisers LP now owns 51,600 shares of the company’s stock worth $309,000 after buying an additional 41,200 shares during the period. Hedge funds and other institutional investors 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.