Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 6.1% After Insider Selling

Adaptive Biotechnologies Co. (NASDAQ:ADPT) fell 6.1% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $7.46 and last traded at $7.15. 41,184 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,692,515 shares. The stock had previously closed at $7.62.

Specifically, Director Peter M. Neupert sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the transaction, the director now directly owns 224,690 shares of the company’s stock, valued at $1,584,064.50. This trade represents a 4.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Hershberg sold 53,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the transaction, the director now directly owns 69,690 shares of the company’s stock, valued at approximately $528,947.10. This trade represents a 43.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Scotiabank lifted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group lifted their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.10.

Adaptive Biotechnologies Trading Down 8.1 %

The company’s 50 day moving average price is $7.63 and its 200-day moving average price is $6.09. The company has a market capitalization of $1.04 billion, a PE ratio of -6.47 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, beating 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 last year, the business posted ($0.30) EPS. As a group, analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $34,000. KBC Group NV bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at about $50,000. Townsquare Capital LLC bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $56,000. GAMMA Investing LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at about $59,000. Finally, Cibc World Markets Corp bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.