Adaptive Biotechnologies (NASDAQ:ADPT) Insider Harlan Robins Sells 10,000 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Harlan Robins sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $16.61, for a total value of $166,100.00. Following the completion of the sale, the insider owned 1,232,312 shares in the company, valued at approximately $20,468,702.32. This represents a 0.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Adaptive Biotechnologies Trading Down 15.5%

ADPT opened at $14.75 on Friday. Adaptive Biotechnologies Corporation has a 12-month low of $5.80 and a 12-month high of $20.76. The firm has a market capitalization of $2.25 billion, a PE ratio of -27.31 and a beta of 2.20. The firm has a 50 day moving average of $16.36 and a two-hundred day moving average of $13.19.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The business had revenue of $93.97 million for the quarter, compared to the consensus estimate of $58.76 million. During the same period in the prior year, the firm earned ($0.22) EPS. The business’s revenue for the quarter was up 102.4% on a year-over-year basis. As a group, analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently bought and sold shares of ADPT. CIBC Bancorp USA Inc. acquired a new stake in Adaptive Biotechnologies in the 3rd quarter valued at about $238,000. Harvest Investment Services LLC raised its holdings in Adaptive Biotechnologies by 104.7% in the third quarter. Harvest Investment Services LLC now owns 344,512 shares of the company’s stock valued at $5,154,000 after acquiring an additional 176,235 shares in the last quarter. Oberweis Asset Management Inc. lifted its stake in Adaptive Biotechnologies by 23.3% in the third quarter. Oberweis Asset Management Inc. now owns 726,500 shares of the company’s stock worth $10,868,000 after acquiring an additional 137,100 shares during the last quarter. Castleark Management LLC acquired a new position in Adaptive Biotechnologies during the 3rd quarter worth approximately $4,459,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Adaptive Biotechnologies by 17.6% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 30,469 shares of the company’s stock valued at $456,000 after purchasing an additional 4,552 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

ADPT has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Morgan Stanley assumed coverage on Adaptive Biotechnologies in a report on Monday. They set an “equal weight” rating and a $21.00 target price on the stock. Wall Street Zen upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Finally, Guggenheim began coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and an average target price 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.