Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Kyle Piskel Sells 1,929 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Kyle Piskel sold 1,929 shares of Adaptive Biotechnologies stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.89, for a total transaction of $17,148.81. Following the completion of the sale, the chief financial officer now directly owns 277,396 shares of the company’s stock, valued at approximately $2,466,050.44. This trade represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kyle Piskel also recently made the following trade(s):

• On Wednesday, March 5th, Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $6.98, for a total value of $72,033.60.

Adaptive Biotechnologies Stock Up 1.7%

Shares of Adaptive Biotechnologies stock opened at $9.20 on Tuesday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.44 and a beta of 1.75. The stock’s 50-day simple moving average is $8.06 and its 200-day simple moving average is $7.26. Adaptive Biotechnologies Co. has a 52 week low of $2.99 and a 52 week high of $10.28.

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

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $50,000. Cibc World Markets Corp bought a new stake in Adaptive Biotechnologies in the fourth quarter worth $65,000. Bridgefront Capital LLC purchased a new stake in Adaptive Biotechnologies during the fourth quarter valued at $80,000. Personal CFO Solutions LLC bought a new position in Adaptive Biotechnologies during the first quarter valued at $84,000. Finally, Blair William & Co. IL bought a new position in Adaptive Biotechnologies during the first quarter valued at $84,000. 99.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ADPT shares. The Goldman Sachs Group upped their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Morgan Stanley increased their price target on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Piper Sandler reiterated an “overweight” rating and set a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. Finally, Scotiabank boosted their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

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.