Adaptive Biotechnologies (NASDAQ:ADPT) Insider Harlan Robins Sells 10,000 Shares of Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Harlan Robins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $14.82, for a total transaction of $148,200.00. Following the sale, the insider directly owned 1,269,524 shares in the company, valued at $18,814,345.68. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Adaptive Biotechnologies Stock Performance

Shares of Adaptive Biotechnologies stock traded down $0.47 on Thursday, reaching $14.04. 275,009 shares of the company’s stock were exchanged, compared to its average volume of 1,985,993. The company has a market capitalization of $2.14 billion, a P/E ratio of -17.13 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 52 week low of $4.27 and a 52 week high of $17.89. The firm’s 50-day moving average is $14.96 and its two-hundred day moving average is $12.22.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating 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 business had revenue of $93.97 million during the quarter, compared to the consensus estimate of $58.76 million. During the same quarter last year, the firm posted ($0.22) EPS. Adaptive Biotechnologies’s revenue was up 102.4% compared to the same quarter last year. On average, analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADPT. Wall Street Zen upgraded shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler raised their target price on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. 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 report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Guggenheim started coverage on Adaptive Biotechnologies in a research note on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and a consensus price target of $16.56.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas purchased a new position in Adaptive Biotechnologies in the 1st quarter valued at about $708,000. Principal Financial Group Inc. raised its position in shares of Adaptive Biotechnologies by 98.8% in the first quarter. Principal Financial Group Inc. now owns 285,135 shares of the company’s stock valued at $2,119,000 after buying an additional 141,691 shares during the last quarter. CWM LLC lifted its stake in shares of Adaptive Biotechnologies by 88.8% in the first quarter. CWM LLC now owns 18,947 shares of the company’s stock worth $141,000 after buying an additional 8,913 shares in the last quarter. Victory Capital Management Inc. grew its stake in Adaptive Biotechnologies by 9,892.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company’s stock valued at $13,108,000 after acquiring an additional 1,746,571 shares in the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in Adaptive Biotechnologies in the 1st quarter valued at about $155,000. Hedge funds and other institutional investors 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.