CFO of Adaptive Biotechnologies Sells $72,033.60 in Shares

CFO Kyle Piskel of Adaptive Biotechnologies Co. (NASDAQ:ADPT) sold 10,320 shares of the company's stock on March 5th. The shares were sold for an average price of $6.98, resulting in a total sale value of $72,033.60. After this transaction, Piskel holds 269,010 shares in the company, which are valued at roughly $1,877,689.80. This sale marks a 3.69% reduction in his ownership stake. The details of this transaction were made public in a filing with the Securities and Exchange Commission (SEC), which can be viewed through various financial news platforms.

Current Stock Performance of Adaptive Biotechnologies

On Thursday, Adaptive Biotechnologies' stock price dipped by $0.26, bringing it down to $7.77 during mid-day trading. The company's shares traded at a volume of 1,570,893, which is lower than its average trading volume of 1,648,062 shares. The firm's stock has a 50-day moving average of $7.50 and a 200-day moving average of $5.99. With a market capitalization of $1.15 billion, it currently holds a PE ratio of -7.13 and a beta of 1.53. Over the past year, Adaptive Biotechnologies has witnessed a low of $2.28 and a high of $8.95 in its stock prices.

In its most recent earnings report disclosed on February 11th, Adaptive Biotechnologies announced an earnings per share (EPS) of -$0.23 for the last quarter, which surpassed the consensus expectation of -$0.27 by $0.04. The company registered a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter the previous year, the company posted an EPS of -$0.30. Analysts currently predict that Adaptive Biotechnologies' EPS for the ongoing fiscal year will be around -0.92.

Investments by Hedge Funds in Adaptive Biotechnologies

Several hedge funds have recently adjusted their stakes in Adaptive Biotechnologies. For instance, Rubric Capital Management LP increased its holdings by 2.9% in the third quarter, now owning 14,400,000 shares valued at $73,728,000 after acquiring an extra 400,000 shares. ARK Investment Management LLC raised its position by 1.7% in the same quarter, bringing its total holdings to 11,601,134 shares with a worth of $59,398,000 after purchasing an additional 189,134 shares. Vanguard Group Inc. also increased its share count by 0.7% during the fourth quarter and now possesses 10,714,888 shares valued at $64,236,000 after an additional buy of 75,448 shares. Sumitomo Mitsui Trust Group Inc. raised its holdings by 12.1%, owning 7,733,884 shares worth $39,597,000 after a purchase of 834,253 shares, while Massachusetts Financial Services Co. boosted its holdings by 17.0% in the fourth quarter, now holding 3,370,919 shares valued at $20,209,000. Presently, institutional investors own about 99.17% of the company's stock.

Analysts Update Price Targets for Adaptive Biotechnologies

Analysts have recently provided new price targets for Adaptive Biotechnologies. Goldman Sachs enhanced its price target from $5.50 to $7.50 while maintaining a "neutral" rating. Meanwhile, Piper Sandler reaffirmed an "overweight" rating and revised their target price to $11.00 from $7.00. Scotiabank increased their price target from $10.00 to $12.00, labeling the stock as a "sector outperform". Additionally, BTIG Research raised their price target from $8.00 to $9.00, recommending a "buy" rating. Currently, one investment analyst rates the stock with a hold, while four analysts recommend a buy. Based on data from market analysis, Adaptive Biotechnologies enjoys a consensus rating of "Moderate Buy" with an average price target set at $9.10.

Overview of Adaptive Biotechnologies

Adaptive Biotechnologies Corporation is a commercial-stage company that develops an immune medicine platform for diagnosing and treating various diseases. The firm provides an immunosequencing platform that integrates proprietary chemistry, computational biology, and machine learning to produce clinical immunomics data, enabling the decoding of the adaptive immune system.

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