Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Sells $70,500.00 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Peter M. Neupert sold 10,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $7.05, for a total value of $70,500.00. Following the completion of the transaction, the director now owns 224,690 shares of the company’s stock, valued at $1,584,064.50. The trade was a 4.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT traded up $0.13 during mid-day trading on Wednesday, hitting $7.62. 2,454,883 shares of the company’s stock traded hands, compared to its average volume of 1,727,822. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $8.95. The company has a market cap of $1.13 billion, a PE ratio of -6.99 and a beta of 1.53. The firm’s 50 day simple moving average is $7.63 and its 200 day simple moving average is $6.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the business posted ($0.30) earnings per share. On average, research analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADPT. The Goldman Sachs Group upped their price target 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. Piper Sandler restated an “overweight” rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Scotiabank boosted their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.10.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADPT. Ashton Thomas Securities LLC purchased a new stake in shares of Adaptive Biotechnologies during the third quarter worth about $34,000. KBC Group NV acquired a new stake in Adaptive Biotechnologies during the fourth quarter worth approximately $50,000. Townsquare Capital LLC purchased a new stake in Adaptive Biotechnologies in the 3rd quarter worth approximately $56,000. GAMMA Investing LLC purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $59,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $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.