Chad Robins Sells 86,161 Shares of Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 86,161 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $14.73, for a total value of $1,269,151.53. Following the transaction, the chief executive officer owned 2,873,088 shares of the company’s stock, valued at $42,320,586.24. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $14.14 on Friday. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -17.24 and a beta of 2.09. Adaptive Biotechnologies Corporation has a one year low of $4.27 and a one year high of $17.89. The stock’s fifty day moving average is $14.98 and its 200-day moving average is $12.24.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. The business had revenue of $93.97 million during the quarter, compared to the consensus estimate of $58.76 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company’s quarterly revenue was up 102.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) earnings per share. Analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas acquired a new stake in shares of Adaptive Biotechnologies during the first quarter worth $708,000. Principal Financial Group Inc. increased its stake in Adaptive Biotechnologies by 98.8% in the 1st quarter. Principal Financial Group Inc. now owns 285,135 shares of the company’s stock worth $2,119,000 after purchasing an additional 141,691 shares in the last quarter. CWM LLC raised its holdings in Adaptive Biotechnologies by 88.8% during the 1st quarter. CWM LLC now owns 18,947 shares of the company’s stock worth $141,000 after buying an additional 8,913 shares during the period. Victory Capital Management Inc. lifted its stake in Adaptive Biotechnologies by 9,892.2% during the first quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company’s stock valued at $13,108,000 after buying an additional 1,746,571 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in Adaptive Biotechnologies during the first quarter valued at about $155,000. 99.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADPT. BTIG Research increased their price objective on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Guggenheim initiated coverage on Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 price target for the company. Wall Street Zen raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Finally, Morgan Stanley boosted their price target on shares of Adaptive Biotechnologies from $11.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Tuesday. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.56.

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.