Adaptive Biotechnologies (NASDAQ:ADPT) CEO Sells $703,284.48 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 35,736 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $19.68, for a total value of $703,284.48. Following the transaction, the chief executive officer owned 2,834,239 shares in the company, valued at $55,777,823.52. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Adaptive Biotechnologies Price Performance

ADPT stock traded down $0.87 during midday trading on Monday, hitting $18.79. The stock had a trading volume of 1,943,970 shares, compared to its average volume of 2,026,643. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -22.91 and a beta of 2.09. The business has a 50-day moving average of $15.97 and a two-hundred day moving average of $12.96. Adaptive Biotechnologies Corporation has a 52-week low of $5.80 and a 52-week high of $20.76.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADPT. US Bancorp DE grew its stake in Adaptive Biotechnologies by 12.4% during the first quarter. US Bancorp DE now owns 134,051 shares of the company’s stock valued at $996,000 after acquiring an additional 14,764 shares in the last quarter. Blair William & Co. IL purchased a new stake in Adaptive Biotechnologies in the 1st quarter worth $84,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Adaptive Biotechnologies by 39.1% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 49,413 shares of the company’s stock valued at $367,000 after purchasing an additional 13,892 shares during the last quarter. Vanguard Group Inc. grew its position 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 valued at $82,796,000 after purchasing an additional 428,540 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Adaptive Biotechnologies by 218.3% in the first quarter. Invesco Ltd. now owns 552,531 shares of the company’s stock worth $4,105,000 after purchasing an additional 378,940 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADPT has been the subject of several recent analyst reports. Wall Street Zen raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Piper Sandler upped their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Morgan Stanley set a $21.00 price objective on Adaptive Biotechnologies in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

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.