Chad M. Robins Sells 99,107 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 99,107 shares of Adaptive Biotechnologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.44, for a total value of $836,463.08. Following the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,747,356.44. The trade was a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $8.27 on Monday. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95. The business’s 50 day moving average price is $7.20 and its two-hundred day moving average price is $5.79. The firm has a market cap of $1.22 billion, a PE ratio of -7.59 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued 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 last year, the firm earned ($0.30) EPS. Research analysts predict that Adaptive Biotechnologies Co. will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Adaptive Biotechnologies by 149.5% in the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after buying an additional 137,936 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Adaptive Biotechnologies by 12.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after purchasing an additional 834,253 shares during the period. Millrace Asset Group Inc. acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth approximately $1,396,000. Point72 Asset Management L.P. acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth approximately $2,537,000. Finally, Rubric Capital Management LP raised its position in shares of Adaptive Biotechnologies by 2.9% during the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock worth $73,728,000 after purchasing an additional 400,000 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BTIG Research raised their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler restated 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. Scotiabank raised their price objective 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, The Goldman Sachs Group raised their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.10.

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.