Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells $148,200.00 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Harlan Robins sold 10,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $14.82, for a total transaction of $148,200.00. Following the transaction, the insider owned 1,269,524 shares in the company, valued at approximately $18,814,345.68. The trade was a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Adaptive Biotechnologies Trading Down 0.3%

NASDAQ ADPT opened at $14.10 on Friday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -17.19 and a beta of 2.09. The company has a 50 day moving average of $15.01 and a 200-day moving average of $12.28. Adaptive Biotechnologies Corporation has a 1-year low of $4.27 and a 1-year high of $17.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The company’s revenue was up 102.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) EPS. On average, equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

ADPT has been the subject of a number of analyst reports. TD Cowen boosted their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Piper Sandler raised their target price 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. Morgan Stanley boosted their target price on shares of Adaptive Biotechnologies from $11.00 to $16.00 and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Guggenheim began coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.56.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co acquired a new position in Adaptive Biotechnologies in the 2nd quarter valued at approximately $438,000. Russell Investments Group Ltd. grew its stake in shares of Adaptive Biotechnologies by 104.7% in the first quarter. Russell Investments Group Ltd. now owns 165,831 shares of the company’s stock worth $1,232,000 after purchasing an additional 84,837 shares during the last quarter. Blair William & Co. IL acquired a new stake in Adaptive Biotechnologies in the first quarter valued at $84,000. Invesco Ltd. increased its holdings in Adaptive Biotechnologies by 218.3% in the first quarter. Invesco Ltd. now owns 552,531 shares of the company’s stock valued at $4,105,000 after purchasing an additional 378,940 shares during the period. Finally, Principal Financial Group Inc. raised its position in Adaptive Biotechnologies by 98.8% during 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 during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.