Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Michelle Renee Griffin Sells 15,664 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Michelle Renee Griffin sold 15,664 shares of Adaptive Biotechnologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $7.94, for a total transaction of $124,372.16. Following the completion of the sale, the director now directly owns 51,685 shares of the company’s stock, valued at approximately $410,378.90. This trade represents a 23.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Adaptive Biotechnologies Trading Down 3.2 %

NASDAQ ADPT opened at $7.77 on Friday. The firm has a market capitalization of $1.15 billion, a P/E ratio of -7.13 and a beta of 1.53. The business has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $6.00. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its 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 period in the prior year, the company earned ($0.30) earnings per share. As a group, sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADPT has been the subject of several research reports. Piper Sandler restated an “overweight” rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. The Goldman Sachs Group raised their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Scotiabank upped 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. Finally, BTIG Research lifted 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.10.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors have recently modified their holdings of ADPT. Barclays PLC lifted its holdings in Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock worth $1,180,000 after acquiring an additional 137,936 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings 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 worth $39,597,000 after buying an additional 834,253 shares during the last quarter. Millrace Asset Group Inc. bought a new position in Adaptive Biotechnologies during the third quarter valued at about $1,396,000. Point72 Asset Management L.P. purchased a new stake in Adaptive Biotechnologies during the third quarter worth about $2,537,000. Finally, Rubric Capital Management LP increased its holdings in Adaptive Biotechnologies by 2.9% during the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock worth $73,728,000 after buying an additional 400,000 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

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.