Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Francis Lo Sells 20,875 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) insider Francis Lo sold 20,875 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total value of $145,916.25. Following the sale, the insider now owns 332,846 shares in the company, valued at approximately $2,326,593.54. This trade represents a 5.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock traded down $0.68 during mid-day trading on Monday, hitting $6.67. 2,781,202 shares of the stock were exchanged, compared to its average volume of 1,693,006. The stock has a market capitalization of $991.04 million, a price-to-earnings ratio of -6.12 and a beta of 1.53. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $8.95. The stock's fifty day simple moving average is $7.55 and its two-hundred day simple moving average is $6.04.

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 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 period in the prior year, the company earned ($0.30) earnings per share. On average, research analysts expect that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC grew its holdings in shares of Adaptive Biotechnologies by 6,121.7% during the fourth quarter. Voya Investment Management LLC now owns 2,428,710 shares of the company's stock worth $14,560,000 after buying an additional 2,389,674 shares during the last quarter. Soleus Capital Management L.P. grew its stake in shares of Adaptive Biotechnologies by 168.1% in the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock valued at $17,884,000 after purchasing an additional 1,870,393 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Adaptive Biotechnologies by 12.1% in the third 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 during the period. Ameriprise Financial Inc. raised its stake in shares of Adaptive Biotechnologies by 794.0% during the fourth quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company's stock worth $4,417,000 after purchasing an additional 654,309 shares during the last quarter. Finally, Clearline Capital LP acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth $3,147,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on ADPT. Scotiabank increased their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 13th. BTIG Research increased their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, Piper Sandler reissued an "overweight" rating and set a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of "Moderate Buy" and a consensus 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.