Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Chad M. Cohen Sells 10,000 Shares of Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Chad M. Cohen sold 10,000 shares of the stock in a transaction on Wednesday, May 12th. The shares were sold at an average price of $32.63, for a total transaction of $326,300.00. Following the completion of the transaction, the chief financial officer now directly owns 31,604 shares in the company, valued at $1,031,238.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

NASDAQ:ADPT opened at $33.62 on Friday. Adaptive Biotechnologies Co. has a 12-month low of $30.41 and a 12-month high of $71.25. The stock’s 50 day simple moving average is $39.99 and its 200-day simple moving average is $50.87. The firm has a market cap of $4.72 billion, a P/E ratio of -35.39 and a beta of 0.35.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, May 4th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.12. Adaptive Biotechnologies had a negative net margin of 132.32% and a negative return on equity of 20.15%. On average, analysts expect that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Brinker Capital Investments LLC purchased a new stake in Adaptive Biotechnologies in the 3rd quarter valued at approximately $240,000. Sei Investments Co. lifted its holdings in shares of Adaptive Biotechnologies by 5.2% in the 3rd quarter. Sei Investments Co. now owns 119,731 shares of the company’s stock valued at $5,833,000 after buying an additional 5,941 shares during the period. Strs Ohio boosted its stake in shares of Adaptive Biotechnologies by 41.1% in the third quarter. Strs Ohio now owns 18,448 shares of the company’s stock valued at $897,000 after buying an additional 5,375 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $26,000. Finally, Nisa Investment Advisors LLC purchased a new position in Adaptive Biotechnologies in the fourth quarter worth $202,000. Institutional investors and hedge funds own 80.80% of the company’s stock.

ADPT has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Monday. BTIG Research raised their price target on Adaptive Biotechnologies from $66.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, January 19th. Morgan Stanley lowered their target price on shares of Adaptive Biotechnologies from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $63.00 price target (down previously from $74.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, March 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $56.83.

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 immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.

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