Chad Robins Sells 289,024 Shares of Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CEO Chad Robins sold 289,024 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $15.82, for a total transaction of $4,572,359.68. Following the completion of the transaction, the chief executive officer directly owned 1,987,330 shares of the company’s stock, valued at approximately $31,439,560.60. This trade represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock traded down $0.04 during midday trading on Tuesday, reaching $16.08. 1,777,424 shares of the company traded hands, compared to its average volume of 1,733,053. The firm’s 50 day simple moving average is $16.85 and its two-hundred day simple moving average is $15.79. The firm has a market cap of $2.48 billion, a PE ratio of -40.20 and a beta of 2.19. Adaptive Biotechnologies Corporation has a 1-year low of $6.26 and a 1-year high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.10. The firm had revenue of $71.68 million during the quarter, compared to the consensus estimate of $59.38 million. Adaptive Biotechnologies had a negative return on equity of 46.68% and a negative net margin of 21.48%.Adaptive Biotechnologies’s quarterly revenue was up 51.0% on a year-over-year basis. During the same period last year, the business posted ($0.23) EPS. As a group, research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently modified their holdings of ADPT. Caitong International Asset Management Co. Ltd acquired a new stake in Adaptive Biotechnologies during the fourth quarter worth approximately $28,000. Sound Income Strategies LLC acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Adaptive Biotechnologies by 197.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after purchasing an additional 1,565 shares during the last quarter. Assetmark Inc. grew its position in shares of Adaptive Biotechnologies by 867.9% in the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock valued at $49,000 after purchasing an additional 2,708 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Adaptive Biotechnologies in the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

ADPT has been the topic of several recent research reports. TD Cowen reiterated a “buy” rating on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. Piper Sandler set a $21.00 target price on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. Morgan Stanley started coverage on shares of Adaptive Biotechnologies in a research report on Monday, December 1st. They issued an “equal weight” rating and a $21.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.