Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) CFO Sells $3,174,990.00 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CFO Kyle Piskel sold 162,820 shares of Adaptive Biotechnologies stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $19.50, for a total value of $3,174,990.00. Following the sale, the chief financial officer directly owned 216,637 shares in the company, valued at $4,224,421.50. This trade represents a 42.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Kyle Piskel also recently made the following trade(s):

• On Monday, November 17th, Kyle Piskel sold 238 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $14.05, for a total value of $3,343.90.

Adaptive Biotechnologies Stock Down 0.8%

Shares of NASDAQ ADPT traded down $0.15 during mid-day trading on Tuesday, hitting $18.69. 1,048,809 shares of the company’s stock traded hands, compared to its average volume of 2,362,141. Adaptive Biotechnologies Corporation has a 1 year low of $5.80 and a 1 year high of $20.76. The company’s 50-day moving average is $16.06 and its two-hundred day moving average is $13.02.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.The company had revenue of $93.97 million during the quarter, compared to analysts’ expectations of $58.76 million. During the same quarter in the previous year, the business earned ($0.22) EPS. Adaptive Biotechnologies’s revenue was up 102.4% compared to the same quarter last year. On average, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Adaptive Biotechnologies by 53.2% in the 2nd quarter. SG Americas Securities LLC now owns 37,328 shares of the company’s stock worth $435,000 after buying an additional 12,963 shares during the period. Diversified Trust Co purchased a new position in Adaptive Biotechnologies in the 2nd quarter worth approximately $438,000. Hillsdale Investment Management Inc. purchased a new position in shares of Adaptive Biotechnologies in the second quarter valued at $6,618,000. Intech Investment Management LLC lifted its holdings in Adaptive Biotechnologies by 26.0% in the 2nd quarter. Intech Investment Management LLC now owns 72,605 shares of the company’s stock worth $846,000 after buying an additional 14,990 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in Adaptive Biotechnologies in the 2nd quarter worth $467,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADPT. TD Cowen increased their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Morgan Stanley started coverage on Adaptive Biotechnologies in a research report on Monday. They set an “equal weight” rating and a $21.00 price target for the company. BTIG Research increased their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wall Street Zen upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.11.

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 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.