Insider Selling: Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Sells $402,270.00 in Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the completion of the transaction, the director now directly owns 69,690 shares in the company, valued at approximately $528,947.10. This represents a 43.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Adaptive Biotechnologies Stock Performance

Shares of ADPT traded up $0.13 during trading hours on Wednesday, reaching $7.62. 2,454,883 shares of the company traded hands, compared to its average volume of 1,727,822. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $8.95. The stock has a market cap of $1.13 billion, a P/E ratio of -6.99 and a beta of 1.53. The stock’s fifty day moving average is $7.63 and its 200 day moving average is $6.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results 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 period in the previous year, the business posted ($0.30) earnings per share. On average, equities research analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

ADPT has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price 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. BTIG Research lifted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and set a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. Finally, Scotiabank raised their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and a consensus target price 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.