Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins Sells 158,921 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 158,921 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $8.46, for a total value of $1,344,471.66. Following the transaction, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at approximately $21,798,890.46. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $8.37 on Thursday. The firm has a fifty day moving average price of $7.12 and a 200 day moving average price of $5.73. The stock has a market cap of $1.24 billion, a PE ratio of -7.68 and a beta of 1.50. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) 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 period in the previous year, the firm posted ($0.30) earnings per share. As a group, equities analysts expect that Adaptive Biotechnologies Co. will post -0.94 EPS for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of ADPT. Impact Partnership Wealth LLC increased its stake in Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock valued at $114,000 after purchasing an additional 1,539 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Adaptive Biotechnologies by 2.7% during the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock worth $486,000 after buying an additional 2,163 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Adaptive Biotechnologies by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company’s stock valued at $395,000 after acquiring an additional 2,625 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Adaptive Biotechnologies by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock valued at $188,000 after acquiring an additional 2,928 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Adaptive Biotechnologies by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 68,976 shares of the company’s stock valued at $414,000 after acquiring an additional 3,650 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ADPT shares. Piper Sandler increased their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Scotiabank increased their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. BTIG Research lifted 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. Finally, The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and a consensus target price of $8.30.

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.