Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) CEO Chad M. Robins sold 117,351 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $819,109.98. Following the completion of the transaction, the chief executive officer now owns 2,814,350 shares in the company, valued at approximately $19,644,163. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Adaptive Biotechnologies Price Performance
ADPT traded down $0.68 during trading on Monday, reaching $6.67. 2,781,202 shares of the stock were exchanged, compared to its average volume of 1,693,006. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $8.95. The company has a market capitalization of $991.04 million, a price-to-earnings ratio of -6.12 and a beta of 1.53. The business's 50 day moving average price is $7.55 and its two-hundred day moving average price is $6.04.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period last year, the company posted ($0.30) EPS. On average, analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Adaptive Biotechnologies by 149.5% in the third quarter. Barclays PLC now owns 230,177 shares of the company's stock valued at $1,180,000 after buying an additional 137,936 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings 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 acquiring an additional 834,253 shares during the last quarter. Millrace Asset Group Inc. purchased a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth $1,396,000. Point72 Asset Management L.P. acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth $2,537,000. Finally, Rubric Capital Management LP grew its position in shares of Adaptive Biotechnologies by 2.9% in the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company's stock valued at $73,728,000 after purchasing an additional 400,000 shares during the period. 99.17% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently commented on ADPT. BTIG Research lifted their price target 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. Scotiabank lifted their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Adaptive Biotechnologies presently has an average rating of "Moderate Buy" and a consensus target price of $9.10.
Read Our Latest Stock Report on Adaptive Biotechnologies
Adaptive Biotechnologies Company Profile
(
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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.
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