Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 59,505 shares of Adaptive Biotechnologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $415,344.90. Following the completion of the sale, the chief operating officer now owns 588,249 shares in the company, valued at approximately $4,105,978.02. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Adaptive Biotechnologies stock traded down $0.26 on Thursday, reaching $7.77. The company had a trading volume of 1,570,893 shares, compared to its average volume of 1,648,062. The firm's 50 day moving average price is $7.50 and its two-hundred day moving average price is $5.99. The firm has a market cap of $1.15 billion, a PE ratio of -7.13 and a beta of 1.53. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $8.95.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same period in the prior year, the business posted ($0.30) EPS. As a group, sell-side analysts predict that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.
Several analysts have recently issued reports on the stock. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Scotiabank lifted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Finally, Piper Sandler restated an "overweight" rating and set a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.10.
View Our Latest Report on ADPT
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its position in shares of Adaptive Biotechnologies by 77.2% during the 3rd quarter. US Bancorp DE now owns 163,106 shares of the company's stock worth $835,000 after purchasing an additional 71,065 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company's stock worth $59,398,000 after purchasing an additional 189,134 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth $34,000. GSA Capital Partners LLP purchased a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth $247,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Adaptive Biotechnologies by 12.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company's stock worth $39,597,000 after purchasing an additional 834,253 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company's stock.
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.
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