Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells $506,415.32 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Harlan Robins sold 27,212 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $18.61, for a total value of $506,415.32. Following the sale, the insider directly owned 1,242,312 shares in the company, valued at $23,119,426.32. This trade represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT opened at $14.75 on Monday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -27.31 and a beta of 2.20. The business has a 50-day simple moving average of $16.36 and a two-hundred day simple moving average of $13.25. Adaptive Biotechnologies Corporation has a fifty-two week low of $5.80 and a fifty-two week high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The firm had revenue of $93.97 million for the quarter, compared to the consensus estimate of $58.76 million. During the same quarter last year, the firm posted ($0.22) EPS. The business’s quarterly revenue was up 102.4% compared to the same quarter last year. As a group, research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently modified their holdings of ADPT. Brighton Jones LLC raised its holdings in Adaptive Biotechnologies by 3.1% in the 3rd quarter. Brighton Jones LLC now owns 23,301 shares of the company’s stock worth $349,000 after purchasing an additional 700 shares during the period. Bouvel Investment Partners LLC increased its position in Adaptive Biotechnologies by 2.2% in the third quarter. Bouvel Investment Partners LLC now owns 42,878 shares of the company’s stock worth $641,000 after buying an additional 904 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Adaptive Biotechnologies by 3.1% in the second quarter. China Universal Asset Management Co. Ltd. now owns 30,512 shares of the company’s stock worth $355,000 after buying an additional 910 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Adaptive Biotechnologies by 1.0% in the second quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock worth $1,145,000 after buying an additional 933 shares during the period. Finally, Captrust Financial Advisors lifted its position in shares of Adaptive Biotechnologies by 7.6% during the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock valued at $184,000 after buying an additional 1,119 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler raised their price target on Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price objective on Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Morgan Stanley started coverage on Adaptive Biotechnologies in a research report on Monday, December 1st. They set an “equal weight” rating and a $21.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and an average target price of $17.11.

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.