Adaptive Biotechnologies Co. (NASDAQ:ADPT) Insider Nitin Sood Sells 17,540 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) insider Nitin Sood sold 17,540 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $10.98, for a total value of $192,589.20. Following the sale, the insider now owns 145,571 shares of the company’s stock, valued at approximately $1,598,369.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Adaptive Biotechnologies Trading Up 0.8 %

Shares of NASDAQ ADPT opened at $11.45 on Friday. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -6.98 and a beta of 0.99. Adaptive Biotechnologies Co. has a 12-month low of $5.95 and a 12-month high of $40.00. The stock’s 50 day simple moving average is $8.58 and its 200 day simple moving average is $10.91.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. Adaptive Biotechnologies had a negative return on equity of 39.90% and a negative net margin of 145.37%. During the same period in the prior year, the firm posted ($0.35) EPS. As a group, equities analysts forecast that Adaptive Biotechnologies Co. will post -1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Adaptive Biotechnologies from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, May 24th. Piper Sandler initiated coverage on Adaptive Biotechnologies in a report on Thursday, June 2nd. They issued a “neutral” rating and a $7.50 target price on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.08.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC bought a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at approximately $43,000. Steward Financial Group LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at $44,000. Nisa Investment Advisors LLC increased its position in shares of Adaptive Biotechnologies by 3,683.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,978 shares of the company’s stock valued at $48,000 after buying an additional 5,820 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Adaptive Biotechnologies by 176.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock worth $73,000 after purchasing an additional 3,380 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Adaptive Biotechnologies in the 1st quarter valued at about $90,000. Institutional investors and hedge funds own 88.10% of the company’s stock.

About Adaptive Biotechnologies

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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 immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.