Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Sells $502,828.20 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Harlan S. Robins sold 68,412 shares of Adaptive Biotechnologies stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the sale, the insider now owns 1,279,524 shares of the company’s stock, valued at $9,404,501.40. This represents a 5.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Adaptive Biotechnologies Stock Down 0.1 %

ADPT stock opened at $8.81 on Thursday. The firm has a market capitalization of $1.34 billion, a PE ratio of -8.08 and a beta of 1.75. Adaptive Biotechnologies Co. has a twelve month low of $2.99 and a twelve month high of $10.28. The stock’s 50 day moving average is $7.81 and its 200-day moving average is $6.97.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. The business had revenue of $52.44 million for the quarter, compared to analysts’ expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The business’s revenue was up 25.2% on a year-over-year basis. During the same period last year, the business earned ($0.33) EPS. On average, equities research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADPT has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Scotiabank increased their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Piper Sandler restated an “overweight” rating and set a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday. Finally, Morgan Stanley upped their target price on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.83.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC raised its holdings in shares of Adaptive Biotechnologies by 8.8% in the 4th quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock worth $114,000 after purchasing an additional 1,539 shares during the period. Russell Investments Group Ltd. grew its holdings in Adaptive Biotechnologies by 2.7% during the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock valued at $486,000 after purchasing an additional 2,163 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Adaptive Biotechnologies by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company’s stock worth $395,000 after buying an additional 2,625 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Adaptive Biotechnologies by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock valued at $188,000 after buying an additional 2,928 shares during the period. Finally, D.A. Davidson & CO. lifted its position in shares of Adaptive Biotechnologies by 3.8% during the 1st quarter. D.A. Davidson & CO. now owns 91,850 shares of the company’s stock valued at $682,000 after buying an additional 3,400 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

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.