Adaptive Biotechnologies (NASDAQ:ADPT) CEO Chad Robins Sells 124,998 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 124,998 shares of Adaptive Biotechnologies stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $18.94, for a total value of $2,367,462.12. Following the completion of the sale, the chief executive officer directly owned 2,709,241 shares in the company, valued at $51,313,024.54. This represents a 4.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT traded down $0.87 during trading on Monday, hitting $18.79. The stock had a trading volume of 1,943,970 shares, compared to its average volume of 2,026,643. The company has a market capitalization of $2.87 billion, a PE ratio of -22.91 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 12 month low of $5.80 and a 12 month high of $20.76. The company’s 50-day moving average price is $15.97 and its two-hundred day moving average price is $12.96.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $93.97 million for the quarter, compared to analysts’ expectations of $58.76 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company’s revenue for the quarter was up 102.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several large investors have recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in Adaptive Biotechnologies in the 3rd quarter valued at $30,000. Smartleaf Asset Management LLC increased its position 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 during the last quarter. Blair William & Co. IL purchased a new position in Adaptive Biotechnologies in the first quarter valued at about $84,000. Candriam S.C.A. purchased a new position in Adaptive Biotechnologies in the first quarter valued at approximately $90,000. Finally, Caxton Associates LLP purchased a new stake in Adaptive Biotechnologies in the first quarter worth $93,000. 99.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Morgan Stanley set a $21.00 target price on Adaptive Biotechnologies in a report on Monday. Piper Sandler increased their price target on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, TD Cowen lifted their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Eight investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

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.