Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Sells $370,500.00 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Chad M. Cohen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $37.05, for a total value of $370,500.00. Following the completion of the sale, the chief financial officer now owns 31,604 shares in the company, valued at approximately $1,170,928.20. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of NASDAQ:ADPT opened at $37.92 on Friday. Adaptive Biotechnologies Co. has a 1 year low of $30.41 and a 1 year high of $71.25. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of -32.97 and a beta of 0.27. The company’s 50 day simple moving average is $38.54.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, May 4th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.12. Adaptive Biotechnologies had a negative return on equity of 22.42% and a negative net margin of 134.12%. Equities analysts expect that Adaptive Biotechnologies Co. will post -1.55 earnings per share for the current year.

Several research firms have commented on ADPT. Zacks Investment Research upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday. The Goldman Sachs Group restated a “neutral” rating and issued a $63.00 price objective (down previously from $74.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, March 9th. Finally, Morgan Stanley lowered their price objective on Adaptive Biotechnologies from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Adaptive Biotechnologies currently has a consensus rating of “Buy” and an average price target of $58.40.

A number of hedge funds have recently made changes to their positions in the business. Private Capital Group LLC increased its stake in shares of Adaptive Biotechnologies by 1,266.7% in the 1st quarter. Private Capital Group LLC now owns 615 shares of the company’s stock worth $25,000 after acquiring an additional 570 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth $28,000. Sowell Financial Services LLC increased its stake in shares of Adaptive Biotechnologies by 138.3% in the 1st quarter. Sowell Financial Services LLC now owns 822 shares of the company’s stock worth $30,000 after acquiring an additional 477 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth about $33,000. Finally, Harbour Investments Inc. acquired a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth about $90,000. Institutional investors own 80.50% 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 immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.

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