Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Sells 15,664 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) Director Michelle Renee Griffin sold 15,664 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $7.94, for a total value of $124,372.16. Following the completion of the sale, the director now directly owns 51,685 shares in the company, valued at $410,378.90. The trade was a 23.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Adaptive Biotechnologies Trading Down 9.3 %

ADPT stock traded down $0.68 on Monday, hitting $6.67. The company had a trading volume of 2,781,202 shares, compared to its average volume of 1,693,006. The stock has a market cap of $991.04 million, a price-to-earnings ratio of -6.12 and a beta of 1.53. The stock's 50-day simple moving average is $7.55 and its 200 day simple moving average is $6.04. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate 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 earned ($0.30) earnings per share. Research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

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Institutional Investors Weigh In On Adaptive Biotechnologies

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group upped 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. Piper Sandler reiterated an "overweight" rating and set a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Scotiabank increased their target price on 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 research 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 currently has a consensus rating of "Moderate Buy" and an average price target of $9.10.

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.