Harlan S. Robins Sells 7,790 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock


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Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Harlan S. Robins sold 7,790 shares of the company’s stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $43.18, for a total transaction of $336,372.20. Following the transaction, the insider now owns 81,045 shares of the company’s stock, valued at approximately $3,499,523.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of ADPT traded up $1.28 during midday trading on Thursday, hitting $43.44. The stock had a trading volume of 665,975 shares, compared to its average volume of 997,305. Adaptive Biotechnologies Co. has a 1 year low of $28.31 and a 1 year high of $71.25. The firm has a market cap of $6.05 billion, a PE ratio of -45.73 and a beta of 0.35. The stock’s 50 day moving average is $41.38 and its 200 day moving average is $52.06.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Tuesday, February 23rd. The company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). Adaptive Biotechnologies had a negative net margin of 132.32% and a negative return on equity of 20.15%. The firm had revenue of $30.19 million during the quarter, compared to analysts’ expectations of $27.08 million. As a group, sell-side analysts predict that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current year.

A number of research firms recently issued reports on ADPT. BTIG Research upped their price target on shares of Adaptive Biotechnologies from $66.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, January 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $63.00 price target (down previously from $74.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, March 9th. Zacks Investment Research downgraded shares of Adaptive Biotechnologies from a “hold” rating to a “sell” rating in a research note on Tuesday, January 12th. Finally, Morgan Stanley upped their price target on shares of Adaptive Biotechnologies from $46.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $59.33.

Several institutional investors and hedge funds have recently made changes to their positions in ADPT. Private Capital Group LLC raised its stake in shares of Adaptive Biotechnologies by 1,266.7% in the first quarter. Private Capital Group LLC now owns 615 shares of the company’s stock valued at $25,000 after acquiring an additional 570 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at $26,000. HM Payson & Co. purchased a new stake in shares of Adaptive Biotechnologies in the third quarter valued at $30,000. NEXT Financial Group Inc purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at $33,000. Finally, Rothschild Investment Corp IL purchased a new stake in shares of Adaptive Biotechnologies in the first quarter valued at $201,000. 80.80% of the stock is currently owned by institutional investors and hedge funds.

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 immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.

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