Adaptive Biotechnologies (NASDAQ:ADPT) Shares Down 6.1% on Insider Selling

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s stock price traded down 6.1% on Thursday after an insider sold shares in the company. The stock traded as low as $7.46 and last traded at $7.15. 41,184 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 1,692,515 shares. The stock had previously closed at $7.62.

Specifically, Director Peter M. Neupert sold 10,000 shares of Adaptive Biotechnologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the sale, the director now owns 224,690 shares of the company’s stock, valued at approximately $1,584,064.50. This trade represents a 4.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now directly owns 69,690 shares of the company’s stock, valued at $528,947.10. This represents a 43.20 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. 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 research note on Tuesday, January 28th. BTIG Research lifted their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Scotiabank lifted their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research note 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. According to MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Adaptive Biotechnologies Stock Up 1.5 %

The stock has a market cap of $1.08 billion, a PE ratio of -6.68 and a beta of 1.53. The company has a fifty day moving average price of $7.65 and a 200 day moving average price of $6.11.

Adaptive Biotechnologies (NASDAQ:ADPT) last released 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 in the prior year, the company earned ($0.30) EPS. As a group, research analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ADPT. Ashton Thomas Securities LLC purchased a new position in shares of Adaptive Biotechnologies in the third quarter worth about $34,000. GSA Capital Partners LLP purchased a new position in Adaptive Biotechnologies during the 3rd quarter valued at about $247,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Adaptive Biotechnologies by 12.1% during the 3rd 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. Jennison Associates LLC increased its holdings in Adaptive Biotechnologies by 30.3% during the 3rd quarter. Jennison Associates LLC now owns 231,531 shares of the company’s stock valued at $1,185,000 after purchasing an additional 53,908 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Adaptive Biotechnologies during the 3rd quarter valued at about $176,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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.