Adaptive Biotechnologies CEO Chad M. Robins Sells 99,107 Shares

On Thursday, February 20th, Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins divested 99,107 shares of the company's stock. This sale was executed at an average price of $8.44 per share, resulting in a total transaction value of $836,463.08. Following the sale, Robins holds a direct ownership of 2,576,701 shares in the company, which are currently valued at approximately $21,747,356.44. The transaction indicates a 3.70% decrease in his overall stake. Details of this sale were filed with the Securities and Exchange Commission (SEC) and can be accessed through their official website.

Adaptive Biotechnologies Stock Performance

As of Friday, shares of ADPT opened at $8.27. The company has a 50-day moving average price of $7.20 and a 200-day moving average price of $5.77. Over the past year, Adaptive Biotechnologies experienced a low of $2.28 and a high of $8.95. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.59, and a beta coefficient of 1.50.

Adaptive Biotechnologies released its quarterly earnings report on Tuesday, February 11th. The company reported an earnings per share (EPS) of ($0.23), surpassing analysts' expectations of ($0.27) by a margin of $0.04. The firm recorded a negative net margin of 89.12% and a negative return on equity of 64.65%. In the same period last year, the reported EPS was ($0.30). Going forward, analysts project that Adaptive Biotechnologies will have an EPS of -0.94 for the current fiscal year.

Analyst Ratings Changes

Recently, several analysts have updated their ratings and price targets for Adaptive Biotechnologies. Scotiabank raised their price target from $10.00 to $12.00, maintaining a "sector outperform" rating. The Goldman Sachs Group adjusted their target from $5.50 to $7.50 with a "neutral" rating. BTIG Research also increased their target from $8.00 to $9.00, rating the company as a "buy." Additionally, Piper Sandler restated an "overweight" rating, issuing a new price objective of $11.00, up from the previous $7.00. Currently, one equity research analyst has issued a hold rating, while four others have recommended buying the stock. According to MarketBeat, the consensus rating for Adaptive Biotechnologies is "Moderate Buy," with a price target of $9.10.

Institutional Investors Weigh In On Adaptive Biotechnologies

A variety of hedge funds have recently adjusted their positions in Adaptive Biotechnologies. Impact Partnership Wealth LLC increased its stake by 8.8% during the fourth quarter, now owning 19,078 shares valued at $114,000. Russell Investments Group Ltd. raised its holdings by 2.7%, holding 80,994 shares worth $486,000 after a 2,163-share purchase. Similarly, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake by 4.1% to 65,916 shares worth $395,000. China Universal Asset Management Co. Ltd. also increased its holdings by 10.3%, now holding 31,292 shares valued at $188,000. Lastly, MetLife Investment Management LLC raised its position by 5.6%, owning 68,976 shares worth $414,000. Overall, 99.17% of Adaptive Biotechnologies' stock is held by institutional investors and hedge funds.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation operates as a commercial-stage company that focuses on developing an immune medicine platform for diagnosing and treating various diseases. The company offers an immunosequencing platform that utilizes proprietary chemistry, computational biology, and machine learning to provide clinical immunomics data, allowing it to decode the adaptive immune system.

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