Chad M. Robins Sells 158,921 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 158,921 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.46, for a total value of $1,344,471.66. Following the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $21,798,890.46. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Adaptive Biotechnologies Trading Down 0.4 %

Shares of Adaptive Biotechnologies stock opened at $8.30 on Wednesday. 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 $1.22 billion, a P/E ratio of -6.19 and a beta of 1.50. The stock has a 50-day moving average price of $7.05 and a 200 day moving average price of $5.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 110.13% and a negative return on equity of 62.06%. During the same period last year, the business earned ($0.30) earnings per share. On average, equities analysts forecast that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADPT has been the topic of a number of recent analyst reports. Scotiabank boosted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. Piper Sandler boosted their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, BTIG Research boosted their price target 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADPT. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $34,000. KBC Group NV bought a new position in Adaptive Biotechnologies during the fourth quarter valued at approximately $50,000. Townsquare Capital LLC acquired a new stake in Adaptive Biotechnologies in the third quarter valued at approximately $56,000. GAMMA Investing LLC bought a new stake in Adaptive Biotechnologies in the fourth quarter worth approximately $59,000. Finally, Cibc World Markets Corp acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $65,000. 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.