Chad Robins Sells 35,736 Shares of Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 35,736 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $19.68, for a total transaction of $703,284.48. Following the sale, the chief executive officer owned 2,834,239 shares in the company, valued at $55,777,823.52. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Adaptive Biotechnologies Stock Down 4.4%

NASDAQ ADPT traded down $0.87 during trading hours on Monday, hitting $18.79. 1,943,970 shares of the company were exchanged, compared to its average volume of 2,026,643. The stock has a market cap of $2.87 billion, a PE ratio of -22.91 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 52 week low of $5.80 and a 52 week high of $20.76. The stock has a 50-day moving average price of $15.97 and a 200 day moving average price of $12.96.

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

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Adaptive Biotechnologies by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company’s stock worth $82,796,000 after purchasing an additional 428,540 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Adaptive Biotechnologies by 801.6% in the 1st quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company’s stock worth $49,355,000 after purchasing an additional 5,905,756 shares in the last quarter. Braidwell LP purchased a new position in shares of Adaptive Biotechnologies in the first quarter worth $35,692,000. Geode Capital Management LLC increased its position in shares of Adaptive Biotechnologies by 15.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,215,171 shares of the company’s stock valued at $37,461,000 after acquiring an additional 434,347 shares during the period. Finally, Aristotle Atlantic Partners LLC lifted its position in Adaptive Biotechnologies by 8.6% during the 3rd quarter. Aristotle Atlantic Partners LLC now owns 3,126,719 shares of the company’s stock worth $46,776,000 after acquiring an additional 247,402 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADPT has been the topic of a number of analyst reports. TD Cowen boosted their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Guggenheim started coverage on Adaptive Biotechnologies in a research report on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price for the company. BTIG Research upped 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. Wall Street Zen raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Piper Sandler upped their target price on Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target 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.