Adaptive Biotechnologies (NASDAQ:ADPT) CEO Sells $18,023.09 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 1,237 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $14.57, for a total value of $18,023.09. Following the completion of the sale, the chief executive officer directly owned 2,871,851 shares of the company’s stock, valued at $41,842,869.07. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Adaptive Biotechnologies Price Performance

ADPT opened at $14.10 on Friday. Adaptive Biotechnologies Corporation has a 1 year low of $4.27 and a 1 year high of $17.89. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -17.19 and a beta of 2.09. The firm’s fifty day moving average price is $15.01 and its two-hundred day moving average price is $12.28.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 102.4% on a year-over-year basis. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ADPT. Wall Street Zen raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Morgan Stanley increased their price target on Adaptive Biotechnologies from $11.00 to $16.00 and gave the company an “equal weight” rating in a research report on Tuesday. Piper Sandler lifted their price target on Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. TD Cowen boosted their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Adaptive Biotechnologies has an average rating of “Moderate Buy” and an average target price of $16.56.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in Adaptive Biotechnologies in the third quarter worth $30,000. Smartleaf Asset Management LLC grew its stake in shares of Adaptive Biotechnologies by 593.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock worth $59,000 after acquiring an additional 3,371 shares during the period. Blair William & Co. IL purchased a new stake in Adaptive Biotechnologies in the 1st quarter worth about $84,000. Candriam S.C.A. bought a new stake in Adaptive Biotechnologies in the 1st quarter valued at about $90,000. Finally, Caxton Associates LLP bought a new stake in Adaptive Biotechnologies in the 1st quarter valued at about $93,000. 99.17% of the stock is owned by 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.