Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Sells $836,463.08 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 99,107 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.44, for a total value of $836,463.08. Following the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $21,747,356.44. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Adaptive Biotechnologies Price Performance

Shares of ADPT traded down $0.06 during mid-day trading on Friday, reaching $8.27. 1,430,002 shares of the company’s stock traded hands, compared to its average volume of 1,612,521. The stock has a market cap of $1.22 billion, a P/E ratio of -7.59 and a beta of 1.50. The stock’s 50-day moving average is $7.20 and its two-hundred day moving average is $5.77. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) 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 quarter in the previous year, the business earned ($0.30) EPS. Research analysts predict that Adaptive Biotechnologies Co. will post -0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $711,000. Voloridge Investment Management LLC bought a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $174,000. Soleus Capital Management L.P. grew its stake in Adaptive Biotechnologies by 168.1% in the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock worth $17,884,000 after purchasing an additional 1,870,393 shares in the last quarter. Squarepoint Ops LLC grew its stake in Adaptive Biotechnologies by 265.3% in the fourth quarter. Squarepoint Ops LLC now owns 44,401 shares of the company’s stock worth $266,000 after purchasing an additional 32,247 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in Adaptive Biotechnologies by 396.2% in the fourth quarter. Two Sigma Advisers LP now owns 51,600 shares of the company’s stock worth $309,000 after purchasing an additional 41,200 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADPT. Scotiabank upped their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. BTIG Research upped their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Piper Sandler restated an “overweight” rating and set a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.10.

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.