Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Sells 15,664 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Michelle Renee Griffin sold 15,664 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $7.94, for a total value of $124,372.16. Following the completion of the transaction, the director now directly owns 51,685 shares in the company, valued at approximately $410,378.90. This represents a 23.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Adaptive Biotechnologies Trading Down 5.4 %

NASDAQ ADPT opened at $7.35 on Friday. The stock has a 50-day simple moving average of $7.55 and a 200 day simple moving average of $6.03. The company has a market capitalization of $1.08 billion, a PE ratio of -6.74 and a beta of 1.53. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating 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 firm earned ($0.30) earnings per share. As a group, sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP increased its holdings in shares of Adaptive Biotechnologies by 2.9% in the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock worth $73,728,000 after acquiring an additional 400,000 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Adaptive Biotechnologies by 1.7% in the third quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock worth $59,398,000 after acquiring an additional 189,134 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Adaptive Biotechnologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock worth $64,236,000 after acquiring an additional 75,448 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Adaptive Biotechnologies by 12.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after acquiring an additional 834,253 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Adaptive Biotechnologies by 17.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock worth $20,209,000 after acquiring an additional 489,555 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADPT. The Goldman Sachs Group boosted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Piper Sandler restated an “overweight” rating and set a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Scotiabank boosted their target price on 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, BTIG Research boosted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.