Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 10.9% on Insider Selling

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s stock price traded down 10.9% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $17.17 and last traded at $16.6550. 445,222 shares changed hands during trading, a decline of 78% from the average session volume of 2,014,582 shares. The stock had previously closed at $18.69.

Specifically, CFO Kyle Piskel sold 162,820 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $19.50, for a total transaction of $3,174,990.00. Following the completion of the transaction, the chief financial officer directly owned 216,637 shares in the company, valued at $4,224,421.50. This represents a 42.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad M. Robins sold 124,998 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 2,709,241 shares in the company, valued at $51,313,024.54. The trade was a 4.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other news, CEO Chad M. Robins sold 35,736 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 2,834,239 shares of the company’s stock, valued at approximately $55,777,823.52. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of research firms recently weighed in on ADPT. Morgan Stanley started coverage on shares of Adaptive Biotechnologies in a report on Monday. They issued an “equal weight” rating and a $21.00 price objective on the stock. Piper Sandler upped their target price on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. BTIG Research raised their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. Finally, Guggenheim assumed coverage on Adaptive Biotechnologies in a report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

Adaptive Biotechnologies Stock Up 1.9%

The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -32.33 and a beta of 2.20. The business has a 50-day simple moving average of $16.33 and a two-hundred day simple moving average of $13.15.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating 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 company had revenue of $93.97 million for the quarter, compared to analysts’ expectations of $58.76 million. During the same period last year, the firm earned ($0.22) EPS. The firm’s revenue for the quarter was up 102.4% on a year-over-year basis. On average, analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brighton Jones LLC increased its position in Adaptive Biotechnologies by 3.1% during the third quarter. Brighton Jones LLC now owns 23,301 shares of the company’s stock worth $349,000 after buying an additional 700 shares during the last quarter. Bouvel Investment Partners LLC lifted 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 worth $641,000 after buying an additional 904 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Adaptive Biotechnologies by 3.1% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 30,512 shares of the company’s stock worth $355,000 after acquiring an additional 910 shares in the last quarter. California State Teachers Retirement System increased its holdings 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 valued at $1,145,000 after acquiring an additional 933 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings 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 acquiring an additional 1,119 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

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.