Adaptive Biotechnologies (NASDAQ:ADPT) Insider Francis Lo Sells 115,406 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Francis Lo sold 115,406 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $28.06, for a total value of $3,238,292.36. Following the completion of the sale, the insider directly owned 220,867 shares of the company’s stock, valued at $6,197,528.02. This represents a 34.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Thursday, July 2nd, Francis Lo sold 44,838 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $22.59, for a total value of $1,012,890.42.
• On Wednesday, July 1st, Francis Lo sold 51,004 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $22.45, for a total value of $1,145,039.80.

Adaptive Biotechnologies Stock Up 0.2%

Shares of ADPT stock opened at $28.61 on Friday. The stock’s 50 day simple moving average is $24.36 and its 200 day simple moving average is $18.65. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $28.72. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of -69.78 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The company had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. During the same quarter last year, the business earned ($0.17) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts predict that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth about $324,735,000. Wellington Management Group LLP grew its position in Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock worth $126,799,000 after buying an additional 2,053,944 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Adaptive Biotechnologies during the fourth quarter valued at about $65,942,000. Bank of America Corp DE acquired a new position in Adaptive Biotechnologies in the 2nd quarter valued at approximately $37,109,000. Finally, Principal Financial Group Inc. lifted its position in shares of Adaptive Biotechnologies by 9.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock worth $23,664,000 after acquiring an additional 152,378 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on ADPT shares. Morgan Stanley lifted their target price on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. TD Cowen raised their price target on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Guggenheim lifted their price objective on Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, BTIG Research boosted their price objective on Adaptive Biotechnologies from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five equities 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.42.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corp. (NASDAQ: ADPT) is a biotechnology company focused on applying immune-system data to the diagnosis and treatment of disease. The company develops technologies that decode T-cell and B-cell receptors, helping researchers and clinicians analyze the adaptive immune response at the scale of individual immune cells.

Its key products include clonoSEQ, a clinical diagnostic test that measures minimal residual disease in certain blood cancers, including multiple myeloma and acute lymphoblastic leukemia.