Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells 12,604 Shares of Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Sharon Benzeno sold 12,604 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $16.85, for a total transaction of $212,377.40. Following the completion of the transaction, the insider directly owned 296,791 shares in the company, valued at approximately $5,000,928.35. The trade was a 4.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Sharon Benzeno also recently made the following trade(s):

• On Thursday, November 20th, Sharon Benzeno sold 297,925 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $16.54, for a total transaction of $4,927,679.50.
• On Friday, November 21st, Sharon Benzeno sold 308,477 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $16.91, for a total value of $5,216,346.07.

Adaptive Biotechnologies Stock Performance

Shares of ADPT traded up $0.20 on Monday, hitting $14.95. 3,756,721 shares of the stock traded hands, compared to its average volume of 2,662,811. The business has a 50 day simple moving average of $16.39 and a 200 day simple moving average of $13.29. Adaptive Biotechnologies Corporation has a one year low of $5.80 and a one year high of $20.76. The company has a market capitalization of $2.28 billion, a PE ratio of -27.68 and a beta of 2.20.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADPT shares. Piper Sandler increased their price objective on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ADPT. US Bancorp DE grew its holdings in shares of Adaptive Biotechnologies by 12.4% in the first quarter. US Bancorp DE now owns 134,051 shares of the company’s stock valued at $996,000 after purchasing an additional 14,764 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Adaptive Biotechnologies in the first quarter valued at about $84,000. Vanguard Group Inc. raised its stake in shares of Adaptive Biotechnologies by 4.0% during the first 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 during the last quarter. Invesco Ltd. lifted its stake in shares of Adaptive Biotechnologies by 218.3% in the 1st quarter. Invesco Ltd. now owns 552,531 shares of the company’s stock worth $4,105,000 after acquiring an additional 378,940 shares during the period. Finally, Nuveen LLC purchased a new position in Adaptive Biotechnologies during the first quarter worth about $9,623,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

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.