Adaptive Biotechnologies (NASDAQ:ADPT) CEO Chad Robins Sells 124,998 Shares of Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 124,998 shares of Adaptive Biotechnologies stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $18.94, for a total value of $2,367,462.12. Following the transaction, the chief executive officer directly owned 2,709,241 shares in the company, valued at approximately $51,313,024.54. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $18.79 on Tuesday. The company 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 firm has a market capitalization of $2.87 billion, a price-to-earnings 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. On average, analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently modified their holdings of the company. 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 acquiring an additional 700 shares during the period. Bouvel Investment Partners LLC grew its position in shares of Adaptive Biotechnologies by 2.2% in the third quarter. Bouvel Investment Partners LLC now owns 42,878 shares of the company’s stock valued at $641,000 after purchasing an additional 904 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of 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 purchasing an additional 910 shares during the period. California State Teachers Retirement System lifted its position in shares of Adaptive Biotechnologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock worth $1,145,000 after purchasing an additional 933 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in 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 purchasing an additional 1,119 shares during the period. 99.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. 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. TD Cowen increased their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Piper Sandler lifted their target price on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley set a $21.00 target price on shares of Adaptive Biotechnologies in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

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.