Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Sells 211,160 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) CEO Chad M. Robins sold 211,160 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at approximately $21,901,958.50. The trade was a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Adaptive Biotechnologies Stock Performance

ADPT traded down $0.06 during trading on Friday, reaching $8.27. The stock had a trading volume of 1,430,002 shares, compared to its average volume of 1,612,521. The business has a 50-day moving average of $7.20 and a 200-day moving average of $5.77. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $8.95. The stock has a market cap of $1.22 billion, a PE ratio of -7.59 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating 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 quarter last year, the firm posted ($0.30) EPS. Equities research analysts forecast that Adaptive Biotechnologies Co. will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several research analysts have recently weighed in 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 report on Tuesday, January 28th. Piper Sandler restated an "overweight" rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday. Scotiabank raised their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. Finally, BTIG Research boosted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and an average price target 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.