Adaptive Biotechnologies Co. (NASDAQ:ADPT) insider Harlan S. Robins sold 3,895 shares of the business's stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $37.12, for a total value of $144,582.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of ADPT stock traded up $0.19 during trading hours on Wednesday, reaching $38.18. 397,404 shares of the company's stock were exchanged, compared to its average volume of 916,696. Adaptive Biotechnologies Co. has a fifty-two week low of $30.41 and a fifty-two week high of $71.25. The company has a market capitalization of $5.36 billion, a PE ratio of -33.20 and a beta of 0.28. The business's fifty day simple moving average is $37.75.
Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, May 4th. The company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.12. The company had revenue of $38.44 million during the quarter, compared to analyst estimates of $28.53 million. Adaptive Biotechnologies had a negative return on equity of 22.42% and a negative net margin of 134.12%. Research analysts forecast that Adaptive Biotechnologies Co. will post -1.55 earnings per share for the current year.
ADPT has been the subject of several analyst reports. Zacks Investment Research lowered Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a report on Tuesday. Morgan Stanley reduced their target price on Adaptive Biotechnologies from $60.00 to $55.00 and set an "equal weight" rating for the company in a report on Friday, May 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of "Buy" and a consensus target price of $59.20.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in shares of Adaptive Biotechnologies by 1.1% during the first quarter. Arizona State Retirement System now owns 25,880 shares of the company's stock valued at $1,042,000 after purchasing an additional 282 shares during the period. Xponance Inc. increased its position in shares of Adaptive Biotechnologies by 5.0% during the first quarter. Xponance Inc. now owns 8,168 shares of the company's stock valued at $329,000 after purchasing an additional 390 shares during the period. Alliancebernstein L.P. increased its position in shares of Adaptive Biotechnologies by 1.0% during the first quarter. Alliancebernstein L.P. now owns 43,063 shares of the company's stock valued at $1,734,000 after purchasing an additional 412 shares during the period. Sowell Financial Services LLC increased its position in shares of Adaptive Biotechnologies by 138.3% during the first quarter. Sowell Financial Services LLC now owns 822 shares of the company's stock valued at $30,000 after purchasing an additional 477 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Adaptive Biotechnologies by 10.7% during the first quarter. CIBC Asset Management Inc now owns 5,092 shares of the company's stock valued at $205,000 after purchasing an additional 493 shares during the period. Institutional investors and hedge funds own 80.48% of the company's stock.
About Adaptive Biotechnologies
Adaptive Biotechnologies Corp. engages in the development of an immune medicine platform. It harnesses the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its products and services include immunoSEQ, clonoSEQ, cellular therapy, and vaccines. The company was founded by Chad Robins, Harlan Robins, and Chris Carlson in September 2009 and is headquartered in Seattle, WA.
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