Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Robert Hershberg Sells 53,000 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. This trade represents a 43.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $7.62 on Thursday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.99 and a beta of 1.53. The business’s 50 day simple moving average is $7.63 and its 200-day simple moving average is $6.09. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its 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 period last year, the business earned ($0.30) EPS. On average, sell-side analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth about $34,000. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth approximately $50,000. Townsquare Capital LLC purchased a new stake in shares of Adaptive Biotechnologies during the third quarter worth approximately $56,000. GAMMA Investing LLC acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $59,000. Finally, Cibc World Markets Corp acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $65,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADPT shares. Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. BTIG Research increased their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock 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 previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus target price 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.