Chad M. Robins Sells 99,107 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 99,107 shares of Adaptive Biotechnologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.44, for a total value of $836,463.08. Following the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at $21,747,356.44. The trade was a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Adaptive Biotechnologies Stock Down 0.7 %

NASDAQ:ADPT traded down $0.06 during mid-day trading on Friday, hitting $8.27. 1,430,002 shares of the company traded hands, compared to its average volume of 1,612,521. The stock’s fifty day moving average price is $7.20 and its 200-day moving average price is $5.77. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $8.95. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -7.59 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter last year, the firm earned ($0.30) earnings per share. Equities analysts predict that Adaptive Biotechnologies Co. will post -0.94 EPS for the current year.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds have recently bought and sold shares of ADPT. Ashton Thomas Securities LLC purchased a new position in shares of Adaptive Biotechnologies in the third quarter valued at about $34,000. KBC Group NV purchased a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at about $50,000. Townsquare Capital LLC purchased a new position in shares of Adaptive Biotechnologies in the third quarter valued at about $56,000. GAMMA Investing LLC purchased a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at about $59,000. Finally, Cibc World Markets Corp purchased a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at about $65,000. Institutional investors own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

ADPT has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Scotiabank lifted their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Finally, BTIG Research lifted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.10.

About Adaptive Biotechnologies

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.