Chad M. Robins Sells 99,107 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 99,107 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.44, for a total value of $836,463.08. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at $21,747,356.44. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Adaptive Biotechnologies Trading Down 0.7 %

ADPT opened at $8.27 on Friday. The stock’s 50-day moving average price is $7.20 and its 200 day moving average price is $5.78. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $8.95. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -7.59 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter in the previous year, the firm earned ($0.30) EPS. On average, research analysts forecast that Adaptive Biotechnologies Co. will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its stake in shares of Adaptive Biotechnologies by 6,121.7% in the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company’s stock valued at $14,560,000 after acquiring an additional 2,389,674 shares in the last quarter. Soleus Capital Management L.P. increased its holdings in Adaptive Biotechnologies by 168.1% during the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock worth $17,884,000 after purchasing an additional 1,870,393 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Adaptive Biotechnologies by 12.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after purchasing an additional 834,253 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Adaptive Biotechnologies by 794.0% in the 4th quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company’s stock valued at $4,417,000 after buying an additional 654,309 shares during the period. Finally, Clearline Capital LP purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $3,147,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ADPT. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday. The Goldman Sachs Group upped their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Scotiabank boosted their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and an average target price of $9.10.

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.