Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Sells $124,372.16 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Michelle Renee Griffin sold 15,664 shares of Adaptive Biotechnologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $7.94, for a total value of $124,372.16. Following the transaction, the director now directly owns 51,685 shares in the company, valued at approximately $410,378.90. The trade was a 23.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Adaptive Biotechnologies Stock Down 5.4 %

Shares of NASDAQ ADPT opened at $7.35 on Friday. The business’s 50 day moving average is $7.55 and its two-hundred day moving average is $6.03. The company has a market cap of $1.08 billion, a P/E ratio of -6.74 and a beta of 1.53. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping 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 quarter last year, the firm posted ($0.30) EPS. Sell-side analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler reiterated 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, February 20th. Scotiabank raised 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. The Goldman Sachs Group raised their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, BTIG Research raised their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.10.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors have recently bought and sold shares of ADPT. US Bancorp DE boosted its stake in Adaptive Biotechnologies by 77.2% in the 3rd quarter. US Bancorp DE now owns 163,106 shares of the company’s stock valued at $835,000 after buying an additional 71,065 shares in the last quarter. ARK Investment Management LLC boosted its stake in Adaptive Biotechnologies by 1.7% in the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock valued at $59,398,000 after buying an additional 189,134 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Adaptive Biotechnologies in the 3rd quarter valued at $34,000. GSA Capital Partners LLP acquired a new stake in Adaptive Biotechnologies in the 3rd quarter valued at $247,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Adaptive Biotechnologies by 12.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after purchasing an additional 834,253 shares in the last quarter. Institutional investors and hedge funds 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.