Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) insider Harlan S. Robins sold 1,698 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $9.00, for a total value of $15,282.00. Following the completion of the sale, the insider now directly owns 1,279,524 shares in the company, valued at approximately $11,515,716. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Adaptive Biotechnologies Stock Down 2.1 %
Shares of ADPT opened at $8.24 on Thursday. The firm has a fifty day simple moving average of $7.85 and a two-hundred day simple moving average of $6.32. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $9.01. The stock has a market capitalization of $1.22 billion, a P/E ratio of -7.56 and a beta of 1.53.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period in the previous year, the firm earned ($0.30) EPS. Sell-side analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.
Hedge Funds Weigh In On Adaptive Biotechnologies
Several hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in Adaptive Biotechnologies by 149.5% in the third quarter. Barclays PLC now owns 230,177 shares of the company's stock valued at $1,180,000 after acquiring an additional 137,936 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth about $2,537,000. Millrace Asset Group Inc. bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $1,396,000. Rubric Capital Management LP increased its position in shares of Adaptive Biotechnologies by 2.9% during the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company's stock valued at $73,728,000 after buying an additional 400,000 shares during the period. Finally, Cerity Partners LLC raised its stake in Adaptive Biotechnologies by 58.7% in the third quarter. Cerity Partners LLC now owns 694,417 shares of the company's stock worth $3,555,000 after buying an additional 256,933 shares in the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on ADPT shares. BTIG Research lifted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Piper Sandler reissued an "overweight" rating and issued a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Scotiabank raised their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group raised Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $8.00 to $9.00 in a research note on Friday, March 21st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Adaptive Biotechnologies currently has a consensus rating of "Buy" and a consensus price target of $9.40.
View Our Latest Stock Report on Adaptive Biotechnologies
Adaptive Biotechnologies Company Profile
(
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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.
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