Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Sells 20,875 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Francis Lo sold 20,875 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total transaction of $145,916.25. Following the completion of the transaction, the insider now directly owns 332,846 shares of the company’s stock, valued at approximately $2,326,593.54. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Adaptive Biotechnologies Stock Down 5.4 %

Shares of NASDAQ ADPT opened at $7.35 on Friday. The business’s 50 day moving average price is $7.55 and its two-hundred day moving average price is $6.03. The company has a market cap of $1.08 billion, a PE ratio of -6.74 and a beta of 1.53. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping 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 quarter in the prior year, the firm earned ($0.30) EPS. As a group, research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Impact Partnership Wealth LLC grew its position in shares of Adaptive Biotechnologies by 8.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock valued at $114,000 after purchasing an additional 1,539 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Adaptive Biotechnologies by 2.7% in the fourth quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock valued at $486,000 after purchasing an additional 2,163 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Adaptive Biotechnologies by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company’s stock valued at $395,000 after purchasing an additional 2,625 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Adaptive Biotechnologies by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock valued at $188,000 after purchasing an additional 2,928 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Adaptive Biotechnologies by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 68,976 shares of the company’s stock valued at $414,000 after purchasing an additional 3,650 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ADPT shares. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. The Goldman Sachs Group lifted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Scotiabank lifted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. Finally, BTIG Research lifted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.10.

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.