Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Kyle Piskel Sells 10,320 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) CFO Kyle Piskel sold 10,320 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $72,033.60. Following the sale, the chief financial officer now owns 269,010 shares in the company, valued at approximately $1,877,689.80. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Adaptive Biotechnologies Trading Down 9.3 %

ADPT stock traded down $0.68 during trading on Monday, reaching $6.67. The stock had a trading volume of 2,781,202 shares, compared to its average volume of 1,693,006. The stock's 50 day moving average is $7.55 and its two-hundred day moving average is $6.04. The firm has a market cap of $991.04 million, a PE ratio of -6.12 and a beta of 1.53. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the prior year, the business earned ($0.30) EPS. On average, research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

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Wall Street Analyst Weigh In

Several brokerages have commented on ADPT. BTIG Research increased their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Piper Sandler reaffirmed an "overweight" rating and set a $11.00 price objective (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Scotiabank boosted their target price 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. Finally, The Goldman Sachs Group lifted their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ADPT. Ashton Thomas Securities LLC bought a new position in Adaptive Biotechnologies in the 3rd quarter worth $34,000. KBC Group NV purchased a new stake in Adaptive Biotechnologies in the fourth quarter worth about $50,000. GAMMA Investing LLC bought a new position in shares of Adaptive Biotechnologies in the fourth quarter worth about $59,000. Cibc World Markets Corp purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $65,000. Finally, Townsquare Capital LLC bought a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

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.