Chad Robins Sells 1,237 Shares of Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 1,237 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $14.57, for a total value of $18,023.09. Following the transaction, the chief executive officer directly owned 2,871,851 shares in the company, valued at approximately $41,842,869.07. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Adaptive Biotechnologies Trading Down 2.5%

Shares of NASDAQ ADPT opened at $14.14 on Friday. Adaptive Biotechnologies Corporation has a twelve month low of $4.27 and a twelve month high of $17.89. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -17.24 and a beta of 2.09. The firm has a 50-day moving average of $14.98 and a two-hundred day moving average of $12.24.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company had revenue of $93.97 million for the quarter, compared to analysts’ expectations of $58.76 million. During the same quarter in the previous year, the company posted ($0.22) EPS. The business’s revenue was up 102.4% compared to the same quarter last year. As a group, research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new stake in shares of Adaptive Biotechnologies in the third quarter valued at $30,000. Smartleaf Asset Management LLC grew its holdings in shares of Adaptive Biotechnologies by 593.5% during the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after buying an additional 3,371 shares in the last quarter. Blair William & Co. IL acquired a new position in Adaptive Biotechnologies during the first quarter valued at $84,000. Candriam S.C.A. purchased a new stake in Adaptive Biotechnologies in the 1st quarter worth about $90,000. Finally, Caxton Associates LLP purchased a new stake in Adaptive Biotechnologies in the 1st quarter worth about $93,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADPT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. BTIG Research raised their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Morgan Stanley boosted their target price on Adaptive Biotechnologies from $11.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Piper Sandler upped their target price on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Guggenheim assumed coverage on Adaptive Biotechnologies in a research report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.56.

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.