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

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Chad M. Cohen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $37.05, for a total value of $370,500.00. Following the transaction, the chief financial officer now directly owns 31,604 shares of the company’s stock, valued at $1,170,928.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of ADPT traded up $2.10 during mid-day trading on Thursday, reaching $37.92. The company’s stock had a trading volume of 620,426 shares, compared to its average volume of 979,377. Adaptive Biotechnologies Co. has a 1-year low of $30.41 and a 1-year high of $71.25. The stock has a market cap of $5.32 billion, a PE ratio of -32.77 and a beta of 0.27. The business’s 50-day moving average price is $38.59.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, May 4th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.12. Adaptive Biotechnologies had a negative return on equity of 22.42% and a negative net margin of 134.12%. On average, analysts forecast that Adaptive Biotechnologies Co. will post -1.55 EPS for the current fiscal year.

ADPT has been the subject of several recent research reports. Morgan Stanley reduced their price target on Adaptive Biotechnologies from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $63.00 price target (down from $74.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, March 9th. Finally, Zacks Investment Research raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Adaptive Biotechnologies presently has a consensus rating of “Buy” and an average price target of $58.40.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of Adaptive Biotechnologies by 1.1% in the first quarter. Arizona State Retirement System now owns 25,880 shares of the company’s stock valued at $1,042,000 after buying an additional 282 shares during the last quarter. Xponance Inc. lifted its holdings in Adaptive Biotechnologies by 5.0% during the 1st quarter. Xponance Inc. now owns 8,168 shares of the company’s stock worth $329,000 after purchasing an additional 390 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Adaptive Biotechnologies by 1.0% during the 1st quarter. Alliancebernstein L.P. now owns 43,063 shares of the company’s stock worth $1,734,000 after purchasing an additional 412 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in Adaptive Biotechnologies by 138.3% during the 1st quarter. Sowell Financial Services LLC now owns 822 shares of the company’s stock worth $30,000 after purchasing an additional 477 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Adaptive Biotechnologies by 10.7% during the 1st quarter. CIBC Asset Management Inc now owns 5,092 shares of the company’s stock worth $205,000 after purchasing an additional 493 shares during the last quarter. 80.50% of the stock is owned by institutional investors.

Adaptive Biotechnologies Company Profile

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.

Recommended Story: What are the most popular ETFs

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.