Chad Robins Sells 1,867 Shares of Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 1,867 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $15.00, for a total transaction of $28,005.00. Following the sale, the chief executive officer owned 2,869,975 shares of the company’s stock, valued at approximately $43,049,625. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Adaptive Biotechnologies Price Performance

ADPT stock opened at $14.14 on Friday. The firm has a 50 day simple moving average of $14.98 and a two-hundred day simple moving average of $12.24. The stock has a market cap of $2.16 billion, a PE ratio of -17.24 and a beta of 2.09. Adaptive Biotechnologies Corporation has a one year low of $4.27 and a one year high of $17.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company had revenue of $93.97 million during the quarter, compared to the consensus estimate of $58.76 million. During the same period in the previous year, the firm posted ($0.22) EPS. The firm’s revenue was up 102.4% compared to the same quarter last year. On average, research analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

ADPT has been the subject of several research analyst reports. Guggenheim assumed coverage on Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 price target for the company. Piper Sandler raised their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. TD Cowen upped their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and a consensus price target of $16.56.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in Adaptive Biotechnologies during the 1st quarter valued at $708,000. Principal Financial Group Inc. increased its position in shares of Adaptive Biotechnologies by 98.8% in the first quarter. Principal Financial Group Inc. now owns 285,135 shares of the company’s stock valued at $2,119,000 after acquiring an additional 141,691 shares during the period. CWM LLC increased its position in shares of Adaptive Biotechnologies by 88.8% in the first quarter. CWM LLC now owns 18,947 shares of the company’s stock valued at $141,000 after acquiring an additional 8,913 shares during the period. Victory Capital Management Inc. raised its stake in shares of Adaptive Biotechnologies by 9,892.2% during the first quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company’s stock valued at $13,108,000 after acquiring an additional 1,746,571 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth about $155,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

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.