Kyle Piskel Sells 1,929 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Kyle Piskel sold 1,929 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.89, for a total transaction of $17,148.81. Following the transaction, the chief financial officer now directly owns 277,396 shares in the company, valued at $2,466,050.44. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kyle Piskel also recently made the following trade(s):

• On Wednesday, March 5th, Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60.

Adaptive Biotechnologies Stock Performance

Shares of Adaptive Biotechnologies stock traded up $0.15 during midday trading on Monday, reaching $9.20. 1,033,664 shares of the company’s stock traded hands, compared to its average volume of 1,573,361. Adaptive Biotechnologies Co. has a 52 week low of $2.99 and a 52 week high of $10.28. The company’s 50 day simple moving average is $8.06 and its 200 day simple moving average is $7.26. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -8.44 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The firm had revenue of $52.44 million for the quarter, compared to the consensus estimate of $42.13 million. During the same period in the prior year, the business posted ($0.33) earnings per share. The business’s quarterly revenue was up 25.2% on a year-over-year basis. As a group, equities research analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

ADPT has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. The Goldman Sachs Group boosted their target price on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Morgan Stanley upped their target price on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Finally, Scotiabank raised 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 five have issued a buy rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ADPT. Vanguard Group Inc. lifted its holdings in Adaptive Biotechnologies by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company’s stock worth $82,796,000 after purchasing an additional 428,540 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Adaptive Biotechnologies by 801.6% during the first quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company’s stock valued at $49,355,000 after purchasing an additional 5,905,756 shares during the last quarter. Braidwell LP bought a new position in shares of Adaptive Biotechnologies in the first quarter valued at approximately $35,692,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Adaptive Biotechnologies by 17.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock worth $20,209,000 after buying an additional 489,555 shares during the last quarter. Finally, Soleus Capital Management L.P. lifted its stake in shares of Adaptive Biotechnologies by 168.1% in the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock worth $17,884,000 after buying an additional 1,870,393 shares during the last quarter. 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.