Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Sells 53,000 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Robert Hershberg sold 53,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the completion of the transaction, the director now owns 69,690 shares in the company, valued at approximately $528,947.10. The trade was a 43.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Adaptive Biotechnologies Price Performance

ADPT opened at $7.62 on Thursday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.99 and a beta of 1.53. 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 price of $7.63 and a two-hundred day moving average price of $6.09.

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, beating the consensus estimate 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 previous year, the company earned ($0.30) EPS. Equities analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in Adaptive Biotechnologies during the third quarter worth about $34,000. KBC Group NV bought a new stake in Adaptive Biotechnologies in the 4th quarter valued at $50,000. Townsquare Capital LLC bought a new stake in Adaptive Biotechnologies during the 3rd quarter worth about $56,000. GAMMA Investing LLC bought a new stake in Adaptive Biotechnologies during the 4th quarter worth about $59,000. Finally, Cibc World Markets Corp bought a new stake in Adaptive Biotechnologies during the 4th quarter worth about $65,000. 99.17% of the stock is currently owned by institutional investors.

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.