Adaptive Biotechnologies (NASDAQ:ADPT) Insider Francis Lo Sells 113,890 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Francis Lo sold 113,890 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $15.57, for a total value of $1,773,267.30. Following the transaction, the insider owned 315,978 shares of the company’s stock, valued at $4,919,777.46. The trade was a 26.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Adaptive Biotechnologies Price Performance

Shares of ADPT traded up $0.19 during trading hours on Wednesday, hitting $16.12. The company’s stock had a trading volume of 2,430,820 shares, compared to its average volume of 2,091,144. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -29.85 and a beta of 2.20. The business has a 50 day simple moving average of $16.51 and a two-hundred day simple moving average of $13.56. Adaptive Biotechnologies Corporation has a 52-week low of $5.80 and a 52-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 (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.The firm had revenue of $93.97 million for the quarter, compared to the consensus estimate of $58.76 million. During the same quarter in the prior year, the business posted ($0.22) earnings per share. The business’s quarterly revenue was up 102.4% on a year-over-year basis. Research analysts predict that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

ADPT has been the subject of several recent analyst reports. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Guggenheim began coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC purchased a new position in Adaptive Biotechnologies in the 3rd quarter worth $30,000. Smartleaf Asset Management LLC boosted its position in Adaptive Biotechnologies by 593.5% during the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after buying an additional 3,371 shares during the period. Candriam S.C.A. bought a new position in shares of Adaptive Biotechnologies during the first quarter valued at about $90,000. Caxton Associates LLP purchased a new position in shares of Adaptive Biotechnologies in the first quarter worth about $93,000. Finally, Teza Capital Management LLC bought a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at about $118,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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.