Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Sells $836,463.08 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 99,107 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.44, for a total value of $836,463.08. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at approximately $21,747,356.44. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Adaptive Biotechnologies Stock Down 0.7 %

NASDAQ:ADPT opened at $8.27 on Monday. The stock’s 50-day simple moving average is $7.20 and its 200 day simple moving average is $5.79. The firm has a market capitalization of $1.22 billion, a PE ratio of -7.59 and a beta of 1.50. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95.

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 last year, the firm earned ($0.30) EPS. On average, analysts anticipate that Adaptive Biotechnologies Co. will post -0.94 EPS for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently bought and sold shares of the business. Impact Partnership Wealth LLC boosted its stake in Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock valued at $114,000 after buying an additional 1,539 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Adaptive Biotechnologies by 2.7% in the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock valued at $486,000 after buying an additional 2,163 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Adaptive Biotechnologies by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company’s stock valued at $395,000 after buying an additional 2,625 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Adaptive Biotechnologies by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock valued at $188,000 after purchasing an additional 2,928 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Adaptive Biotechnologies by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 68,976 shares of the company’s stock valued at $414,000 after purchasing an additional 3,650 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADPT has been the topic of several recent research reports. Scotiabank increased their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. Piper Sandler restated an “overweight” rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday. BTIG Research raised their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently 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.