Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sharon Benzeno Sells 297,925 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Sharon Benzeno sold 297,925 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $16.54, for a total value of $4,927,679.50. Following the completion of the transaction, the insider directly owned 296,791 shares in the company, valued at $4,908,923.14. This trade represents a 50.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Sharon Benzeno also recently made the following trade(s):

• On Friday, November 21st, Sharon Benzeno sold 308,477 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $16.91, for a total value of $5,216,346.07.

Adaptive Biotechnologies Stock Up 9.9%

Shares of NASDAQ ADPT traded up $1.85 during trading on Monday, reaching $20.46. 4,334,804 shares of the stock were exchanged, compared to its average volume of 2,029,294. The business’s 50-day moving average price is $15.43 and its 200 day moving average price is $12.66. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -24.95 and a beta of 2.09. Adaptive Biotechnologies Corporation has a twelve month low of $4.76 and a twelve month high of $20.65.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $93.97 million during the quarter, compared to analyst estimates of $58.76 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.Adaptive Biotechnologies’s quarterly revenue was up 102.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) EPS. As a group, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Piper Sandler upped their price target on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Adaptive Biotechnologies from $11.00 to $16.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Finally, BTIG Research raised their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Eight 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. Based on data from MarketBeat, Adaptive Biotechnologies has an average rating of “Moderate Buy” and a consensus target price of $16.56.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC bought a new stake in shares of Adaptive Biotechnologies during the third quarter worth $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of Adaptive Biotechnologies by 593.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after purchasing an additional 3,371 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Adaptive Biotechnologies in the third quarter valued at approximately $133,000. Keybank National Association OH acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth about $155,000. Finally, Caprock Group LLC bought a new position in shares of Adaptive Biotechnologies during the third quarter worth about $163,000. 99.17% of the stock is 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.