Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 4% on Insider Selling

Adaptive Biotechnologies Co. (NASDAQ:ADPTGet Free Report)’s stock price fell 4% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $3.59 and last traded at $3.63. 538,918 shares were traded during trading, a decline of 62% from the average session volume of 1,401,494 shares. The stock had previously closed at $3.78.

Specifically, insider Kyle Piskel sold 7,727 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $26,503.61. Following the sale, the insider now directly owns 123,318 shares of the company’s stock, valued at approximately $422,980.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 48,673 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $166,948.39. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $8,838,084.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kyle Piskel sold 7,727 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $26,503.61. Following the transaction, the insider now owns 123,318 shares of the company’s stock, valued at approximately $422,980.74. The disclosure for this sale can be found here. Insiders have sold a total of 124,307 shares of company stock valued at $428,090 in the last ninety days. Company insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ADPT. The Goldman Sachs Group lowered their price target on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. lowered their target price on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, February 15th. Piper Sandler lowered their target price on shares of Adaptive Biotechnologies from $13.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, November 13th. Finally, William Blair restated an “outperform” rating on shares of Adaptive Biotechnologies in a report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Check Out Our Latest Analysis on Adaptive Biotechnologies

Adaptive Biotechnologies Stock Performance

The company has a market cap of $500.57 million, a PE ratio of -2.21 and a beta of 1.27. The stock’s 50-day simple moving average is $4.09 and its 200 day simple moving average is $4.71.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of the company. ARK Investment Management LLC increased its holdings in shares of Adaptive Biotechnologies by 11.3% in the 4th quarter. ARK Investment Management LLC now owns 12,806,513 shares of the company’s stock valued at $62,752,000 after purchasing an additional 1,297,205 shares in the last quarter. Vanguard Group Inc. grew its stake in Adaptive Biotechnologies by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 12,767,684 shares of the company’s stock valued at $62,562,000 after acquiring an additional 518,642 shares during the last quarter. BlackRock Inc. grew its stake in Adaptive Biotechnologies by 12.2% in the 3rd quarter. BlackRock Inc. now owns 10,119,409 shares of the company’s stock valued at $72,051,000 after acquiring an additional 1,098,301 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Adaptive Biotechnologies by 2.9% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,570,939 shares of the company’s stock valued at $35,812,000 after acquiring an additional 186,892 shares during the last quarter. Finally, Bellevue Group AG grew its stake in Adaptive Biotechnologies by 59.8% in the 1st quarter. Bellevue Group AG now owns 3,145,293 shares of the company’s stock valued at $43,657,000 after acquiring an additional 1,176,862 shares during the last quarter. Hedge funds and other institutional investors own 94.31% of the company’s stock.

Adaptive Biotechnologies Company Profile

(Get Free Report)

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals.

See Also

Receive News & Ratings for Adaptive Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adaptive Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.