Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Sells $72,033.60 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the completion of the transaction, the chief financial officer now directly owns 269,010 shares of the company’s stock, valued at approximately $1,877,689.80. This represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Adaptive Biotechnologies Stock Down 5.4 %

Shares of NASDAQ:ADPT opened at $7.35 on Friday. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $8.95. The company has a market cap of $1.08 billion, a PE ratio of -6.74 and a beta of 1.53. The company’s 50-day moving average price is $7.55 and its 200 day moving average price is $6.02.

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 return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter in the previous year, the firm earned ($0.30) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADPT. Scotiabank lifted their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. The Goldman Sachs Group lifted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Finally, BTIG Research raised their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ADPT. Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies during the third quarter valued at $34,000. KBC Group NV bought a new position in Adaptive Biotechnologies in the 4th quarter valued at about $50,000. Townsquare Capital LLC acquired a new position in Adaptive Biotechnologies during the 3rd quarter valued at about $56,000. GAMMA Investing LLC acquired a new position in Adaptive Biotechnologies during the 4th quarter valued at about $59,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $65,000. 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.