Chad M. Robins Sells 211,160 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 211,160 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total value of $1,794,860.00. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at $21,901,958.50. This represents a 7.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Adaptive Biotechnologies Trading Up 1.2 %

ADPT opened at $8.37 on Thursday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -7.68 and a beta of 1.50. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $8.95. The business has a 50 day moving average of $7.12 and a 200-day moving average of $5.73.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same period last year, the business posted ($0.30) EPS. Equities analysts predict that Adaptive Biotechnologies Co. will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Adaptive Biotechnologies by 149.5% in the 3rd quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after buying an additional 137,936 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Adaptive Biotechnologies by 12.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after acquiring an additional 834,253 shares during the period. Millrace Asset Group Inc. acquired a new position in Adaptive Biotechnologies in the third quarter worth about $1,396,000. Point72 Asset Management L.P. bought a new position in Adaptive Biotechnologies during the third quarter worth about $2,537,000. Finally, Rubric Capital Management LP boosted its holdings in Adaptive Biotechnologies by 2.9% during the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after purchasing an additional 400,000 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

ADPT has been the subject of several analyst reports. Piper Sandler boosted their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Scotiabank raised their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Adaptive Biotechnologies has an average rating of “Moderate Buy” and an average price target of $8.30.

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.