Harlan S. Robins Sells 1,698 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Harlan S. Robins sold 1,698 shares of Adaptive Biotechnologies stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $9.00, for a total transaction of $15,282.00. Following the transaction, the insider now directly owns 1,279,524 shares of the company’s stock, valued at approximately $11,515,716. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Adaptive Biotechnologies Stock Down 0.2 %

ADPT stock opened at $8.22 on Friday. The stock has a market capitalization of $1.22 billion, a P/E ratio of -7.54 and a beta of 1.53. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $9.01. The firm has a 50-day simple moving average of $7.88 and a 200-day simple moving average of $6.33.

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, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period last year, the company posted ($0.30) EPS. On average, analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $50,000. Townsquare Capital LLC acquired a new position in Adaptive Biotechnologies during the third quarter worth $56,000. GAMMA Investing LLC purchased a new stake in Adaptive Biotechnologies in the 4th quarter valued at $59,000. Cibc World Markets Corp acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $65,000. Finally, Centiva Capital LP acquired a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth $80,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADPT. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $8.00 to $9.00 in a report on Friday, March 21st. BTIG Research lifted their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Scotiabank upped their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $9.40.

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.