Adaptive Biotechnologies (NASDAQ:ADPT) Insider Francis Lo Sells 113,890 Shares of Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) insider Francis Lo sold 113,890 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $15.57, for a total value of $1,773,267.30. Following the sale, the insider owned 315,978 shares of the company’s stock, valued at approximately $4,919,777.46. This trade represents a 26.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Adaptive Biotechnologies Trading Up 4.7%

ADPT opened at $16.88 on Thursday. The firm’s 50 day simple moving average is $16.52 and its two-hundred day simple moving average is $13.57. The company has a market capitalization of $2.58 billion, a PE ratio of -30.92 and a beta of 2.20. Adaptive Biotechnologies Corporation has a 1-year low of $5.80 and a 1-year high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $58.76 million. During the same period last year, the firm earned ($0.22) EPS. Adaptive Biotechnologies’s revenue for the quarter was up 102.4% compared to the same quarter last year. Equities analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley began coverage on shares of Adaptive Biotechnologies in a research note on Monday, December 1st. They issued an “equal weight” rating and a $21.00 price objective for the company. Piper Sandler boosted their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Wall Street Zen raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. BTIG Research lifted their price objective 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

About 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.