Adaptive Biotechnologies (NASDAQ:ADPT) CEO Chad Robins Sells 35,736 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 35,736 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $19.68, for a total value of $703,284.48. Following the completion of the transaction, the chief executive officer owned 2,834,239 shares in the company, valued at $55,777,823.52. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Adaptive Biotechnologies Stock Performance

ADPT stock opened at $18.79 on Tuesday. The firm has a 50 day simple moving average of $16.06 and a 200 day simple moving average of $13.02. Adaptive Biotechnologies Corporation has a 52 week low of $5.80 and a 52 week high of $20.76. The stock has a market cap of $2.87 billion, a P/E ratio of -22.91 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The firm had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company’s revenue for the quarter was up 102.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.22) EPS. Sell-side analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Analysts Set New Price Targets

ADPT has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. BTIG Research lifted their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Morgan Stanley set a $21.00 price objective on Adaptive Biotechnologies in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, TD Cowen lifted their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of large investors have recently added to or reduced their stakes in ADPT. US Bancorp DE raised its position in shares of Adaptive Biotechnologies by 12.4% in the first quarter. US Bancorp DE now owns 134,051 shares of the company’s stock valued at $996,000 after purchasing an additional 14,764 shares during the period. Blair William & Co. IL acquired a new position in Adaptive Biotechnologies during the 1st quarter worth $84,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Adaptive Biotechnologies by 39.1% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 49,413 shares of the company’s stock worth $367,000 after acquiring an additional 13,892 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Adaptive Biotechnologies by 4.0% during the first quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company’s stock valued at $82,796,000 after acquiring an additional 428,540 shares during the period. Finally, Invesco Ltd. grew its position in shares of Adaptive Biotechnologies by 218.3% in the first quarter. Invesco Ltd. now owns 552,531 shares of the company’s stock valued at $4,105,000 after purchasing an additional 378,940 shares during the last quarter. Institutional investors own 99.17% of the company’s stock.

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.