Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Sells 1,929 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Kyle Piskel sold 1,929 shares of Adaptive Biotechnologies stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $8.89, for a total value of $17,148.81. Following the transaction, the chief financial officer now directly owns 277,396 shares in the company, valued at approximately $2,466,050.44. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Kyle Piskel also recently made the following trade(s):

• On Wednesday, March 5th, Kyle Piskel sold 10,320 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $6.98, for a total transaction of $72,033.60.

Adaptive Biotechnologies Trading Up 1.7%

ADPT stock traded up $0.15 during mid-day trading on Monday, reaching $9.20. 1,033,664 shares of the stock traded hands, compared to its average volume of 1,573,361. Adaptive Biotechnologies Co. has a 52-week low of $2.99 and a 52-week high of $10.28. The stock’s fifty day moving average is $8.06 and its 200-day moving average is $7.26. The company has a market cap of $1.40 billion, a P/E ratio of -8.44 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $52.44 million for the quarter, compared to analyst estimates of $42.13 million. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Equities research analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Adaptive Biotechnologies by 4.0% in the first quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company’s stock valued at $82,796,000 after purchasing an additional 428,540 shares in the last quarter. Ameriprise Financial Inc. raised its position in Adaptive Biotechnologies by 801.6% during the first quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company’s stock valued at $49,355,000 after buying an additional 5,905,756 shares during the period. Braidwell LP purchased a new stake in Adaptive Biotechnologies in the 1st quarter worth about $35,692,000. Massachusetts Financial Services Co. MA lifted its stake in Adaptive Biotechnologies by 17.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock worth $20,209,000 after acquiring an additional 489,555 shares in the last quarter. Finally, Soleus Capital Management L.P. boosted its position in Adaptive Biotechnologies by 168.1% during the 4th 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 period. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. Finally, Scotiabank raised their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

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.