Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells 26,792 Shares of Company Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Francis Lo sold 26,792 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $28.28, for a total value of $757,677.76. Following the transaction, the insider owned 220,867 shares in the company, valued at $6,246,118.76. The trade was a 10.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis Lo also recently made the following trade(s):

• On Wednesday, September 16th, Francis Lo sold 115,406 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.06, for a total transaction of $3,238,292.36.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT traded up $1.49 during midday trading on Monday, reaching $29.84. 1,424,680 shares of the company traded hands, compared to its average volume of 2,400,319. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $29.96. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -72.78 and a beta of 2.09. The company has a fifty day moving average price of $25.78 and a 200 day moving average price of $19.76. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The firm had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. Adaptive Biotechnologies’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) EPS. On average, analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nykredit A S acquired a new position in shares of Adaptive Biotechnologies during the second quarter valued at $31,000. Allworth Financial LP acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $28,000. Integrated Wealth Concepts LLC acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth approximately $46,000. Finally, KBC Group NV bought a new position in shares of Adaptive Biotechnologies during the first quarter valued at about $45,000. Institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

ADPT has been the subject of several recent research reports. TD Cowen boosted their price objective on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 30th. National Bank Financial set a $34.00 price objective on shares of Adaptive Biotechnologies in a research report on Tuesday, September 22nd. The Goldman Sachs Group initiated coverage on Adaptive Biotechnologies in a research report on Tuesday, September 29th. They issued a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Finally, Morgan Stanley upped their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.

The company’s product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.