Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Chad M. Cohen Sells 75,000 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CFO Chad M. Cohen sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $62.59, for a total value of $4,694,250.00. Following the completion of the sale, the chief financial officer now directly owns 76,000 shares in the company, valued at $4,756,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ ADPT traded up $1.03 during mid-day trading on Wednesday, reaching $63.49. The stock had a trading volume of 699,081 shares, compared to its average volume of 685,232. Adaptive Biotechnologies Co. has a 1 year low of $15.19 and a 1 year high of $65.69. The stock has a market cap of $8.68 billion, a PE ratio of -65.75 and a beta of 0.35. The company has a fifty day moving average price of $55.87 and a 200 day moving average price of $47.45.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Sunday, November 15th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Adaptive Biotechnologies had a negative net margin of 132.32% and a negative return on equity of 20.15%. The business had revenue of $26.30 million during the quarter, compared to the consensus estimate of $23.58 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, research analysts expect that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. HM Payson & Co. bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at $30,000. American International Group Inc. grew its position in shares of Adaptive Biotechnologies by 39.8% during the 2nd quarter. American International Group Inc. now owns 1,946 shares of the company’s stock valued at $94,000 after acquiring an additional 554 shares during the period. AdvisorNet Financial Inc bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $109,000. Point72 Hong Kong Ltd bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $210,000. Finally, Neo Ivy Capital Management grew its position in shares of Adaptive Biotechnologies by 753.0% during the 3rd quarter. Neo Ivy Capital Management now owns 4,342 shares of the company’s stock valued at $211,000 after acquiring an additional 3,833 shares during the period. 80.80% of the stock is owned by hedge funds and other institutional investors.

Several analysts have weighed in on ADPT shares. Morgan Stanley lifted their price objective on Adaptive Biotechnologies from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 11th. BTIG Research lifted their price objective on Adaptive Biotechnologies from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, November 12th. Zacks Investment Research cut Adaptive Biotechnologies from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $60.00 price objective (up from $50.00) on shares of Adaptive Biotechnologies in a research report on Wednesday, November 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.67.

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 research questions, as well as to discover new prognostic and diagnostic signals.

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