Adaptive Biotechnologies (NASDAQ:ADPT) Insider Sells $212,377.40 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Sharon Benzeno sold 12,604 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $16.85, for a total transaction of $212,377.40. Following the transaction, the insider owned 296,791 shares in the company, valued at $5,000,928.35. The trade was a 4.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sharon Benzeno also recently made the following trade(s):

• On Thursday, November 20th, Sharon Benzeno sold 297,925 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $16.54, for a total transaction of $4,927,679.50.
• On Friday, November 21st, Sharon Benzeno sold 308,477 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $16.91, for a total value of $5,216,346.07.

Adaptive Biotechnologies Stock Performance

ADPT stock traded up $0.20 during midday trading on Monday, hitting $14.95. 3,756,721 shares of the stock were exchanged, compared to its average volume of 2,662,811. The stock’s 50-day moving average price is $16.39 and its 200-day moving average price is $13.29. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -27.68 and a beta of 2.20. Adaptive Biotechnologies Corporation has a fifty-two week low of $5.80 and a fifty-two week high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.Adaptive Biotechnologies’s revenue was up 102.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.22) earnings per share. Research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors have recently added to or reduced their stakes in ADPT. US Bancorp DE lifted its position in shares of Adaptive Biotechnologies by 12.4% during the first quarter. US Bancorp DE now owns 134,051 shares of the company’s stock worth $996,000 after purchasing an additional 14,764 shares during the last quarter. Blair William & Co. IL bought a new position in Adaptive Biotechnologies during the 1st quarter worth approximately $84,000. Vanguard Group Inc. increased its holdings in shares of Adaptive Biotechnologies by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company’s stock valued at $82,796,000 after acquiring an additional 428,540 shares during the last quarter. Invesco Ltd. lifted its position in Adaptive Biotechnologies by 218.3% in the 1st quarter. Invesco Ltd. now owns 552,531 shares of the company’s stock valued at $4,105,000 after purchasing an additional 378,940 shares during the last quarter. Finally, Nuveen LLC bought a new position in Adaptive Biotechnologies in the 1st quarter worth approximately $9,623,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADPT. Piper Sandler increased their price target on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. boosted their price target on Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Guggenheim started coverage on Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.11.

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.