Adaptive Biotechnologies (NASDAQ:ADPT) Insider Francis Lo Sells 113,890 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Francis Lo sold 113,890 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $15.57, for a total value of $1,773,267.30. Following the transaction, the insider owned 315,978 shares of the company’s stock, valued at $4,919,777.46. This trade represents a 26.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Adaptive Biotechnologies Stock Up 1.2%

Adaptive Biotechnologies stock traded up $0.19 during mid-day trading on Wednesday, hitting $16.12. 2,430,820 shares of the stock were exchanged, compared to its average volume of 2,091,144. Adaptive Biotechnologies Corporation has a 12 month low of $5.80 and a 12 month high of $20.76. The firm’s fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $13.56. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -29.85 and a beta of 2.20.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.The firm had revenue of $93.97 million during the quarter, compared to the consensus estimate of $58.76 million. During the same period last year, the business posted ($0.22) EPS. The business’s revenue was up 102.4% compared to the same quarter last year. As a group, analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Piper Sandler raised their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Morgan Stanley initiated coverage on Adaptive Biotechnologies in a report on Monday, December 1st. They set an “equal weight” rating and a $21.00 price objective for the company. BTIG Research increased their target price on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Adaptive Biotechnologies by 3.1% in the 3rd quarter. Brighton Jones LLC now owns 23,301 shares of the company’s stock worth $349,000 after buying an additional 700 shares during the last quarter. Bouvel Investment Partners LLC boosted its position in Adaptive Biotechnologies by 2.2% in the third quarter. Bouvel Investment Partners LLC now owns 42,878 shares of the company’s stock worth $641,000 after purchasing an additional 904 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Adaptive Biotechnologies by 3.1% in the second quarter. China Universal Asset Management Co. Ltd. now owns 30,512 shares of the company’s stock worth $355,000 after purchasing an additional 910 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Adaptive Biotechnologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock valued at $1,145,000 after purchasing an additional 933 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Adaptive Biotechnologies by 7.6% during the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock worth $184,000 after purchasing an additional 1,119 shares during the period. 99.17% of the stock is owned by institutional investors.

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.