Adaptive Biotechnologies (NASDAQ:ADPT) Director Robert Hershberg Sells 22,968 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Director Robert Hershberg sold 22,968 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $16.00, for a total value of $367,488.00. Following the completion of the transaction, the director directly owned 46,722 shares of the company’s stock, valued at $747,552. The trade was a 32.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $15.44 on Friday. The business’s fifty day moving average is $16.46 and its 200 day moving average is $13.41. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -28.59 and a beta of 2.20. Adaptive Biotechnologies Corporation has a 52-week low of $5.80 and a 52-week high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share 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 business had revenue of $93.97 million during the quarter, compared to analyst estimates of $58.76 million. During the same quarter in the previous year, the firm earned ($0.22) EPS. The company’s quarterly revenue was up 102.4% compared to the same quarter last year. Equities analysts predict that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price objective on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Morgan Stanley initiated coverage on Adaptive Biotechnologies in a research note on Monday, December 1st. They issued an “equal weight” rating and a $21.00 target price on the stock. Guggenheim initiated coverage on Adaptive Biotechnologies in a report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Wall Street Zen upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Eight investment 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’s stock. According to data from MarketBeat, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

Institutional Investors Weigh In On Adaptive Biotechnologies

Large investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter worth about $238,000. Harvest Investment Services LLC lifted its position in Adaptive Biotechnologies by 104.7% in the 3rd quarter. Harvest Investment Services LLC now owns 344,512 shares of the company’s stock worth $5,154,000 after buying an additional 176,235 shares during the last quarter. Oberweis Asset Management Inc. lifted its position in Adaptive Biotechnologies by 23.3% in the 3rd quarter. Oberweis Asset Management Inc. now owns 726,500 shares of the company’s stock worth $10,868,000 after buying an additional 137,100 shares during the last quarter. Castleark Management LLC purchased a new stake in Adaptive Biotechnologies in the third quarter worth approximately $4,459,000. Finally, CANADA LIFE ASSURANCE Co grew its position in Adaptive Biotechnologies by 17.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 30,469 shares of the company’s stock valued at $456,000 after acquiring an additional 4,552 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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.