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 Adaptive Biotechnologies stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $9.00, for a total value of $15,282.00. Following the sale, the insider now directly owns 1,279,524 shares in the company, valued at $11,515,716. The trade was a 0.13 % 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 $7.67 on Friday. The firm has a market cap of $1.14 billion, a PE ratio of -7.04 and a beta of 1.53. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $9.01. The business’s 50 day moving average price is $7.89 and its two-hundred day moving average price is $6.35.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter last year, the firm earned ($0.30) EPS. Research analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

Large investors have recently made changes to their positions in the company. KBC Group NV bought a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $50,000. GAMMA Investing LLC acquired a new position in shares of Adaptive Biotechnologies during the fourth quarter worth approximately $59,000. Cibc World Markets Corp bought a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $65,000. Townsquare Capital LLC acquired a new stake in Adaptive Biotechnologies in the 3rd quarter valued at $56,000. Finally, Bridgefront Capital LLC bought a new stake in Adaptive Biotechnologies during the 4th quarter valued at $80,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. 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. Scotiabank increased 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 boosted their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group upgraded shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $8.00 to $9.00 in a research report on Friday, March 21st. Five analysts have rated the stock with a buy rating, According to 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.