Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins Sells 117,351 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 117,351 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $819,109.98. Following the transaction, the chief executive officer now directly owns 2,814,350 shares in the company, valued at $19,644,163. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Adaptive Biotechnologies Trading Down 3.2 %

Shares of ADPT stock opened at $7.77 on Friday. The company has a market capitalization of $1.15 billion, a P/E ratio of -7.13 and a beta of 1.53. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95. The business’s 50 day moving average is $7.53 and its two-hundred day moving average is $6.00.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data 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 return on equity of 64.65% and a negative net margin of 89.12%. During the same period in the prior year, the company posted ($0.30) earnings per share. As a group, equities analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ADPT shares. BTIG Research upped their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. 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 note on Thursday, February 13th. The Goldman Sachs Group boosted their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.10.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at about $711,000. Voloridge Investment Management LLC acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $174,000. Soleus Capital Management L.P. raised its holdings in shares of Adaptive Biotechnologies by 168.1% during the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock worth $17,884,000 after purchasing an additional 1,870,393 shares during the period. Squarepoint Ops LLC raised its stake in Adaptive Biotechnologies by 265.3% during the fourth quarter. Squarepoint Ops LLC now owns 44,401 shares of the company’s stock worth $266,000 after acquiring an additional 32,247 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Adaptive Biotechnologies by 396.2% during the 4th quarter. Two Sigma Advisers LP now owns 51,600 shares of the company’s stock valued at $309,000 after purchasing 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.