Insider Selling: Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CFO Sells $1,406,100.00 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CFO Chad M. Cohen sold 30,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $46.87, for a total transaction of $1,406,100.00. Following the transaction, the chief financial officer now directly owns 31,000 shares in the company, valued at $1,452,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:ADPT opened at $45.93 on Monday. The stock has a market cap of $5.83 billion and a P/E ratio of -26.10. The firm’s fifty day simple moving average is $43.22 and its 200 day simple moving average is $32.74. Adaptive Biotechnologies Corporation has a twelve month low of $15.19 and a twelve month high of $55.12.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The company had revenue of $20.91 million during the quarter, compared to the consensus estimate of $21.52 million. Adaptive Biotechnologies had a negative net margin of 87.47% and a negative return on equity of 22.92%. The company’s quarterly revenue was up 65.1% compared to the same quarter last year. Analysts predict that Adaptive Biotechnologies Corporation will post -1.06 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in ADPT. State Street Corp boosted its holdings in shares of Adaptive Biotechnologies by 76.0% during the 4th quarter. State Street Corp now owns 259,853 shares of the company’s stock valued at $7,775,000 after buying an additional 112,222 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Adaptive Biotechnologies by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 91,896 shares of the company’s stock valued at $2,750,000 after buying an additional 1,795 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of Adaptive Biotechnologies by 6.8% during the 4th quarter. TD Asset Management Inc. now owns 26,832 shares of the company’s stock valued at $803,000 after buying an additional 1,700 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $804,000. Finally, Blair William & Co. IL boosted its holdings in shares of Adaptive Biotechnologies by 93.1% during the 4th quarter. Blair William & Co. IL now owns 223,970 shares of the company’s stock valued at $6,701,000 after buying an additional 107,958 shares in the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.

Several research analysts have commented on ADPT shares. BTIG Research reissued a “buy” rating and set a $46.00 price target on shares of Adaptive Biotechnologies in a research note on Friday, April 17th. Goldman Sachs Group assumed coverage on shares of Adaptive Biotechnologies in a report on Wednesday, June 3rd. They issued a “buy” rating and a $60.00 target price on the stock. Zacks Investment Research cut shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Guggenheim raised their target price on shares of Adaptive Biotechnologies from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, ValuEngine cut shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Adaptive Biotechnologies has an average rating of “Buy” and an average price target of $47.67.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation 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 research questions that inform current and future clinical trials, as well as to discover new prognostic and diagnostic signals.

Featured Article: What are popular range trading strategies?

Insider Buying and Selling by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

Receive News & Ratings for Adaptive Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adaptive Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.