Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Sells $402,270.00 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the completion of the sale, the director now owns 69,690 shares in the company, valued at $528,947.10. The trade was a 43.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock opened at $7.17 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of -6.58 and a beta of 1.53. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95. The business’s fifty day moving average is $7.65 and its 200 day moving average is $6.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results 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 return on equity of 64.65% and a negative net margin of 89.12%. During the same period in the previous year, the firm earned ($0.30) EPS. On average, sell-side analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Scotiabank upped their price objective on shares of 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 restated an “overweight” rating and issued a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group increased their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the third quarter valued at approximately $34,000. KBC Group NV purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at $50,000. GAMMA Investing LLC purchased a new stake in Adaptive Biotechnologies in the 4th quarter worth $59,000. Cibc World Markets Corp purchased a new stake in Adaptive Biotechnologies in the 4th quarter worth $65,000. Finally, Townsquare Capital LLC purchased a new stake in Adaptive Biotechnologies in the 3rd quarter worth $56,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

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.