Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Sells $1,344,471.66 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 158,921 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $8.46, for a total value of $1,344,471.66. Following the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,798,890.46. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Adaptive Biotechnologies Stock Down 0.5 %

Shares of ADPT opened at $8.33 on Friday. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $8.95. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -7.64 and a beta of 1.50. The stock’s 50-day moving average price is $7.16 and its 200-day moving average price is $5.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS 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 period in the prior year, the business earned ($0.30) EPS. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -0.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADPT. The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Scotiabank increased their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. 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. Finally, BTIG Research increased their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.10.

Institutional Trading of Adaptive Biotechnologies

A number of hedge funds have recently modified their holdings of ADPT. SG Americas Securities LLC boosted its stake in shares of Adaptive Biotechnologies by 89.9% in the third quarter. SG Americas Securities LLC now owns 41,145 shares of the company’s stock worth $211,000 after buying an additional 19,478 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Adaptive Biotechnologies by 30.8% during the third quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock worth $87,000 after purchasing an additional 4,000 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Adaptive Biotechnologies by 63.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 28,364 shares of the company’s stock worth $145,000 after purchasing an additional 11,050 shares in the last quarter. US Bancorp DE boosted its position in Adaptive Biotechnologies by 77.2% during the third quarter. US Bancorp DE now owns 163,106 shares of the company’s stock worth $835,000 after purchasing an additional 71,065 shares in the last quarter. Finally, ARK Investment Management LLC boosted its position in Adaptive Biotechnologies by 1.7% during the third quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock worth $59,398,000 after purchasing an additional 189,134 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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.