Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) insider Francis Lo sold 20,875 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.99, for a total value of $145,916.25. Following the sale, the insider now directly owns 332,846 shares of the company's stock, valued at $2,326,593.54. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
ADPT stock traded down $0.26 during midday trading on Thursday, reaching $7.77. 1,570,893 shares of the company traded hands, compared to its average volume of 1,648,062. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95. The business has a 50 day moving average of $7.50 and a 200-day moving average of $5.99. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.13 and a beta of 1.53.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the firm earned ($0.30) EPS. Research analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.
Hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in shares of Adaptive Biotechnologies during the third quarter valued at approximately $34,000. KBC Group NV bought a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $50,000. GAMMA Investing LLC bought a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $59,000. Cibc World Markets Corp bought a new position in Adaptive Biotechnologies in the fourth quarter worth approximately $65,000. Finally, Townsquare Capital LLC bought a new position in Adaptive Biotechnologies in the third quarter worth approximately $56,000. Institutional investors own 99.17% of the company's stock.
ADPT has been the subject of a number of recent analyst reports. BTIG Research upped their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Scotiabank upped their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 13th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $9.10.
View Our Latest Research Report on 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.
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