Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Sells $145,916.25 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Francis Lo sold 20,875 shares of Adaptive Biotechnologies stock in a transaction that occurred 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 sale, the insider now owns 332,846 shares of the company’s stock, valued at approximately $2,326,593.54. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $7.77 on Friday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.13 and a beta of 1.53. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95. The stock has a fifty day moving average of $7.53 and a 200 day moving average of $6.00.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping 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 quarter in the prior year, the company posted ($0.30) EPS. Equities analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ADPT. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $34,000. KBC Group NV bought a new position in Adaptive Biotechnologies in the fourth quarter valued at approximately $50,000. GAMMA Investing LLC acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $59,000. Cibc World Markets Corp bought a new stake in Adaptive Biotechnologies during the fourth quarter worth about $65,000. Finally, Townsquare Capital LLC acquired a new stake in Adaptive Biotechnologies during the 3rd quarter valued at approximately $56,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ADPT shares. BTIG Research increased their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Scotiabank lifted their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. The Goldman Sachs Group boosted their target price 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. Finally, Piper Sandler reissued 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.