Peter M. Neupert Sells 10,000 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) Director Peter M. Neupert sold 10,000 shares of Adaptive Biotechnologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the transaction, the director now directly owns 224,690 shares of the company’s stock, valued at $1,584,064.50. This trade represents a 4.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $7.62 on Thursday. The firm’s 50 day moving average price is $7.63 and its two-hundred day moving average price is $6.09. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -6.99 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 business earned ($0.30) EPS. On average, research analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADPT has been the topic of several analyst reports. Scotiabank increased their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. BTIG Research lifted their price target on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Adaptive Biotechnologies has an average rating of “Moderate Buy” and an average price target of $9.10.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ADPT. Impact Partnership Wealth LLC increased its position in Adaptive Biotechnologies by 8.8% in the 4th quarter. Impact Partnership Wealth LLC now owns 19,078 shares of the company’s stock worth $114,000 after purchasing an additional 1,539 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Adaptive Biotechnologies by 2.7% during the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock worth $486,000 after purchasing an additional 2,163 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Adaptive Biotechnologies by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company’s stock valued at $395,000 after purchasing an additional 2,625 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Adaptive Biotechnologies by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 31,292 shares of the company’s stock worth $188,000 after buying an additional 2,928 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Adaptive Biotechnologies by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 68,976 shares of the company’s stock worth $414,000 after buying an additional 3,650 shares during the last quarter. Institutional investors and hedge funds 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.