Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Sells $145,916.25 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Francis Lo sold 20,875 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total value of $145,916.25. Following the completion of the transaction, the insider now owns 332,846 shares in the company, valued at approximately $2,326,593.54. This represents a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Adaptive Biotechnologies Trading Down 5.4 %

Shares of ADPT opened at $7.35 on Friday. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $8.95. The stock has a market cap of $1.08 billion, a P/E ratio of -6.74 and a beta of 1.53. The stock’s 50-day moving average price is $7.55 and its two-hundred day moving average price is $6.03.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company earned ($0.30) EPS. As a group, equities analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors have recently modified their holdings of the business. Rubric Capital Management LP lifted its holdings in shares of Adaptive Biotechnologies by 2.9% during the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after purchasing an additional 400,000 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock valued at $59,398,000 after purchasing an additional 189,134 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Adaptive Biotechnologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock valued at $64,236,000 after purchasing an additional 75,448 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Adaptive Biotechnologies by 12.1% during 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Adaptive Biotechnologies by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock valued at $20,209,000 after purchasing an additional 489,555 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BTIG Research raised their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group raised their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Scotiabank raised their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.10.

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.