Chad M. Robins Sells 158,921 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 158,921 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $21,798,890.46. The trade was 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 Performance

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

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, beating 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 in the prior year, the firm posted ($0.30) earnings per share. Equities analysts expect that Adaptive Biotechnologies Co. will post -0.94 earnings per share for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Adaptive Biotechnologies by 89.9% during the 3rd quarter. SG Americas Securities LLC now owns 41,145 shares of the company’s stock valued at $211,000 after acquiring an additional 19,478 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Adaptive Biotechnologies by 30.8% in the third quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock valued at $87,000 after purchasing an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Adaptive Biotechnologies by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 28,364 shares of the company’s stock valued at $145,000 after purchasing an additional 11,050 shares during the period. US Bancorp DE increased its stake in Adaptive Biotechnologies by 77.2% during the 3rd quarter. US Bancorp DE now owns 163,106 shares of the company’s stock worth $835,000 after buying an additional 71,065 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock worth $59,398,000 after buying an additional 189,134 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADPT shares. The Goldman Sachs Group upped their price objective on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler lifted their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Scotiabank upped 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. Finally, BTIG Research raised their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

Adaptive Biotechnologies Company Profile

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.