Harlan Robins Sells 10,000 Shares of Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Harlan Robins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $16.61, for a total transaction of $166,100.00. Following the completion of the transaction, the insider owned 1,232,312 shares of the company’s stock, valued at approximately $20,468,702.32. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT traded down $2.71 during mid-day trading on Friday, hitting $14.75. The stock had a trading volume of 7,126,064 shares, compared to its average volume of 2,059,736. The company’s 50 day moving average is $16.33 and its 200-day moving average is $13.15. Adaptive Biotechnologies Corporation has a 12-month low of $5.80 and a 12-month high of $20.76. The company has a market cap of $2.25 billion, a PE ratio of -27.31 and a beta of 2.20.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.The business had revenue of $93.97 million during the quarter, compared to analysts’ expectations of $58.76 million. During the same quarter last year, the firm posted ($0.22) earnings per share. Adaptive Biotechnologies’s revenue was up 102.4% compared to the same quarter last year. On average, equities research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADPT. JPMorgan Chase & Co. lifted their price objective on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Guggenheim assumed coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price objective for the company. Morgan Stanley started coverage on Adaptive Biotechnologies in a research report on Monday. They issued an “equal weight” rating and a $21.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.11.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of Adaptive Biotechnologies by 3.1% during the 3rd quarter. Brighton Jones LLC now owns 23,301 shares of the company’s stock worth $349,000 after buying an additional 700 shares during the period. Bouvel Investment Partners LLC grew its holdings in shares of Adaptive Biotechnologies by 2.2% in the 3rd quarter. Bouvel Investment Partners LLC now owns 42,878 shares of the company’s stock worth $641,000 after purchasing an additional 904 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Adaptive Biotechnologies by 3.1% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 30,512 shares of the company’s stock worth $355,000 after purchasing an additional 910 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Adaptive Biotechnologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock valued at $1,145,000 after purchasing an additional 933 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Adaptive Biotechnologies by 7.6% in the second quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock valued at $184,000 after buying an additional 1,119 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

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.