Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Sells 10,000 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Peter M. Neupert sold 10,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $7.05, for a total value of $70,500.00. Following the completion of the sale, the director now owns 224,690 shares of the company’s stock, valued at approximately $1,584,064.50. This represents a 4.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock traded up $0.13 on Wednesday, hitting $7.62. The company had a trading volume of 2,454,883 shares, compared to its average volume of 1,727,822. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $8.95. The company has a market cap of $1.13 billion, a PE ratio of -6.99 and a beta of 1.53. The business has a 50-day simple moving average of $7.63 and a 200-day simple moving average of $6.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same period in the previous year, the company posted ($0.30) EPS. On average, equities research analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP raised its position in Adaptive Biotechnologies by 2.9% during the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after buying an additional 400,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Adaptive Biotechnologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock valued at $64,236,000 after buying an additional 75,448 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Adaptive Biotechnologies by 12.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after buying an additional 834,253 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Adaptive Biotechnologies by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock valued at $20,209,000 after acquiring an additional 489,555 shares in the last quarter. Finally, Soleus Capital Management L.P. increased 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 acquiring an additional 1,870,393 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ADPT shares. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. The Goldman Sachs Group upped their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Scotiabank raised their target price on shares of 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 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.