Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Sells $145,916.25 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Francis Lo sold 20,875 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total value of $145,916.25. Following the completion of the sale, the insider now directly owns 332,846 shares of the company’s stock, valued at $2,326,593.54. The trade was a 5.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Adaptive Biotechnologies Trading Down 5.4 %

ADPT stock opened at $7.35 on Friday. The firm has a 50 day simple moving average of $7.55 and a 200-day simple moving average of $6.02. The company has a market capitalization of $1.08 billion, a P/E ratio of -6.74 and a beta of 1.53. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 quarter last year, the company posted ($0.30) earnings per share. On average, research analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Institutional Trading of Adaptive Biotechnologies

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Scotiabank upped their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. 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. Finally, 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 report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Adaptive Biotechnologies currently 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.