Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells $757,677.76 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Francis Lo sold 26,792 shares of Adaptive Biotechnologies stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $28.28, for a total value of $757,677.76. Following the transaction, the insider owned 220,867 shares in the company, valued at approximately $6,246,118.76. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis Lo also recently made the following trade(s):

• On Wednesday, September 16th, Francis Lo sold 115,406 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.06, for a total value of $3,238,292.36.

Adaptive Biotechnologies Trading Down 2.3%

Shares of ADPT stock opened at $26.28 on Thursday. The stock has a 50-day simple moving average of $25.94 and a 200 day simple moving average of $19.94. The stock has a market capitalization of $4.19 billion, a P/E ratio of -64.10 and a beta of 2.09. Adaptive Biotechnologies Corporation has a fifty-two week low of $12.00 and a fifty-two week high of $30.74. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The business had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. During the same quarter last year, the firm posted ($0.17) earnings per share. Adaptive Biotechnologies’s revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter worth approximately $28,000. Nykredit A S purchased a new position in Adaptive Biotechnologies during the second quarter valued at approximately $31,000. Allworth Financial LP purchased a new position in Adaptive Biotechnologies during the second quarter valued at approximately $35,000. KBC Group NV acquired a new position in Adaptive Biotechnologies in the 1st quarter valued at approximately $45,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Adaptive Biotechnologies in the 2nd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ADPT. National Bank Financial set a $34.00 target price on shares of Adaptive Biotechnologies in a research note on Tuesday, September 22nd. Guggenheim lifted their price target on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Morgan Stanley increased their price objective on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Piper Sandler raised their price objective on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.94.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.

The company’s product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.