Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Harlan S. Robins Sells 1,698 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Harlan S. Robins sold 1,698 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $9.00, for a total transaction of $15,282.00. Following the completion of the sale, the insider now directly owns 1,279,524 shares of the company’s stock, valued at $11,515,716. This represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock opened at $8.24 on Thursday. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $9.01. The stock’s 50 day moving average price is $7.85 and its two-hundred day moving average price is $6.32. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.56 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted 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 company posted ($0.30) EPS. On average, equities research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC bought a new position in Adaptive Biotechnologies during the 3rd quarter valued at $176,000. Charles Schwab Investment Management Inc. grew its position in shares of Adaptive Biotechnologies by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,743 shares of the company’s stock valued at $4,694,000 after acquiring an additional 10,262 shares during the period. Cerity Partners LLC increased its position in Adaptive Biotechnologies by 58.7% in the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock worth $3,555,000 after buying an additional 256,933 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Adaptive Biotechnologies in the 3rd quarter worth about $177,000. Finally, FMR LLC raised its position in shares of Adaptive Biotechnologies by 102.0% in the third quarter. FMR LLC now owns 233,566 shares of the company’s stock valued at $1,196,000 after purchasing an additional 117,965 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ADPT shares. The Goldman Sachs Group raised Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $8.00 to $9.00 in a report on Friday, March 21st. BTIG Research increased their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Scotiabank lifted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Buy” and a consensus target price of $9.40.

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.