Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Chad M. Cohen Sells 75,000 Shares


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Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Chad M. Cohen sold 75,000 shares of the stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $62.59, for a total value of $4,694,250.00. Following the completion of the sale, the chief financial officer now owns 76,000 shares of the company’s stock, valued at $4,756,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NASDAQ:ADPT opened at $63.49 on Thursday. The company has a market cap of $8.68 billion, a PE ratio of -66.83 and a beta of 0.35. Adaptive Biotechnologies Co. has a 52-week low of $15.19 and a 52-week high of $65.69. The stock has a 50-day simple moving average of $56.22 and a 200 day simple moving average of $47.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Sunday, November 15th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.01. Adaptive Biotechnologies had a negative return on equity of 20.15% and a negative net margin of 132.32%. The business had revenue of $26.30 million during the quarter, compared to the consensus estimate of $23.58 million. During the same period last year, the company earned ($0.11) earnings per share. Adaptive Biotechnologies’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that Adaptive Biotechnologies Co. will post -1.08 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of ADPT. Neuberger Berman Group LLC boosted its position in Adaptive Biotechnologies by 246.2% during the second quarter. Neuberger Berman Group LLC now owns 1,723,347 shares of the company’s stock valued at $83,389,000 after purchasing an additional 1,225,502 shares during the last quarter. Vanguard Group Inc. boosted its position in Adaptive Biotechnologies by 26.2% during the second quarter. Vanguard Group Inc. now owns 5,641,434 shares of the company’s stock valued at $272,933,000 after purchasing an additional 1,169,653 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Adaptive Biotechnologies by 31.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,952,304 shares of the company’s stock valued at $143,571,000 after purchasing an additional 713,320 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its position in Adaptive Biotechnologies by 235.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 839,504 shares of the company’s stock valued at $40,825,000 after purchasing an additional 589,563 shares during the last quarter. Finally, ARK Investment Management LLC boosted its position in Adaptive Biotechnologies by 186.2% during the third quarter. ARK Investment Management LLC now owns 884,722 shares of the company’s stock valued at $43,024,000 after purchasing an additional 575,584 shares during the last quarter. 80.80% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Adaptive Biotechnologies from a “hold” rating to a “sell” rating in a report on Tuesday. Morgan Stanley increased their price objective on Adaptive Biotechnologies from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $60.00 price objective (up from $50.00) on shares of Adaptive Biotechnologies in a report on Wednesday, November 11th. Finally, BTIG Research increased their price objective on Adaptive Biotechnologies from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, November 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $54.67.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer research questions, as well as to discover new prognostic and diagnostic signals.

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