Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Sells $1,794,860.00 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 211,160 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,901,958.50. This trade represents a 7.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $8.33 on Friday. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $8.95. The stock has a market capitalization of $1.23 billion, a P/E ratio of -7.64 and a beta of 1.50. The company’s 50-day simple moving average is $7.16 and its 200-day simple moving average is $5.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the company posted ($0.30) EPS. On average, research analysts forecast that Adaptive Biotechnologies Co. will post -0.94 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ADPT. Scotiabank raised their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. BTIG Research raised their target price 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. Finally, Piper Sandler reissued an “overweight” rating and set a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.10.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Adaptive Biotechnologies in the 3rd quarter worth approximately $34,000. KBC Group NV acquired a new stake in Adaptive Biotechnologies in the 4th quarter worth approximately $50,000. Townsquare Capital LLC acquired a new stake in Adaptive Biotechnologies in the 3rd quarter worth approximately $56,000. GAMMA Investing LLC acquired a new stake in Adaptive Biotechnologies in the 4th quarter worth approximately $59,000. Finally, Cibc World Markets Corp acquired a new stake in Adaptive Biotechnologies in the 4th quarter worth approximately $65,000. 99.17% of the stock is currently 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.