Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins Sells 99,107 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 99,107 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.44, for a total transaction of $836,463.08. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $21,747,356.44. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Adaptive Biotechnologies Stock Down 0.7 %

ADPT opened at $8.27 on Friday. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95. The company has a 50-day moving average price of $7.20 and a 200 day moving average price of $5.77. The company has a market cap of $1.22 billion, a PE ratio of -7.59 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. As a group, sell-side analysts expect that Adaptive Biotechnologies Co. will post -0.94 earnings per share for the current year.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently bought and sold shares of the business. Rubric Capital Management LP grew its stake in Adaptive Biotechnologies by 2.9% during the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after acquiring an additional 400,000 shares in the last quarter. ARK Investment Management LLC grew its stake in Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock valued at $59,398,000 after acquiring an additional 189,134 shares in the last quarter. Vanguard Group Inc. grew its stake in Adaptive Biotechnologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock valued at $64,236,000 after acquiring an additional 75,448 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Adaptive Biotechnologies by 12.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after acquiring an additional 834,253 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Adaptive Biotechnologies by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock valued at $20,209,000 after acquiring an additional 489,555 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADPT. The Goldman Sachs Group upped their price objective on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Scotiabank upped their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and issued a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday. Finally, BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies has an average rating of “Moderate Buy” and an average target price of $9.10.

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.