Francis Lo Sells 115,406 Shares of Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Francis Lo sold 115,406 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $28.06, for a total value of $3,238,292.36. Following the transaction, the insider directly owned 220,867 shares in the company, valued at $6,197,528.02. The trade was a 34.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis Lo also recently made the following trade(s):

• On Thursday, July 2nd, Francis Lo sold 44,838 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $22.59, for a total value of $1,012,890.42.
• On Wednesday, July 1st, Francis Lo sold 51,004 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $22.45, for a total value of $1,145,039.80.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT traded up $0.06 during midday trading on Friday, hitting $28.61. 2,985,535 shares of the company’s stock traded hands, compared to its average volume of 1,877,872. The firm has a fifty day moving average of $24.36 and a 200 day moving average of $18.65. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $28.72. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of -69.78 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The business had revenue of $71.55 million during the quarter, compared to analysts’ expectations of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) EPS. On average, analysts forecast that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ADPT. Caitong International Asset Management Co. Ltd purchased a new position in shares of Adaptive Biotechnologies in the fourth quarter valued at about $28,000. Nykredit A S purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth about $31,000. Allworth Financial LP bought a new stake in Adaptive Biotechnologies during the 2nd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its stake in Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after purchasing an additional 1,565 shares during the period. Finally, KBC Group NV purchased a new position in Adaptive Biotechnologies in the 1st quarter worth approximately $45,000. Institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

ADPT has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Piper Sandler lifted their target price on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. BTIG Research boosted their price target on Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. Finally, Guggenheim raised their price objective on Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Five equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.42.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corp. (NASDAQ: ADPT) is a biotechnology company focused on applying immune-system data to the diagnosis and treatment of disease. The company develops technologies that decode T-cell and B-cell receptors, helping researchers and clinicians analyze the adaptive immune response at the scale of individual immune cells.

Its key products include clonoSEQ, a clinical diagnostic test that measures minimal residual disease in certain blood cancers, including multiple myeloma and acute lymphoblastic leukemia.