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

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

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $18.69 on Wednesday. The firm’s 50 day moving average price is $16.16 and its two-hundred day moving average price is $13.09. Adaptive Biotechnologies Corporation has a twelve month low of $5.80 and a twelve month high of $20.76. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -34.61 and a beta of 2.20.

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

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors have recently added to or reduced their stakes in ADPT. SG Americas Securities LLC lifted its stake in shares of Adaptive Biotechnologies by 53.2% in the 2nd quarter. SG Americas Securities LLC now owns 37,328 shares of the company’s stock valued at $435,000 after purchasing an additional 12,963 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Adaptive Biotechnologies in the second quarter worth about $438,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies in the second quarter worth about $6,618,000. Intech Investment Management LLC boosted its stake in shares of Adaptive Biotechnologies by 26.0% during the 2nd quarter. Intech Investment Management LLC now owns 72,605 shares of the company’s stock worth $846,000 after acquiring an additional 14,990 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $467,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADPT shares. Wall Street Zen raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Guggenheim initiated coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 30th. They set a “buy” rating and a $20.00 price objective on the stock. TD Cowen upped their price objective 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Finally, Morgan Stanley started coverage on shares of Adaptive Biotechnologies in a report on Monday. They set an “equal weight” rating and a $21.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target 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.