CFO of Adaptive Biotechnologies Sells $72,033.60 in Company Shares

Kyle Piskel, the Chief Financial Officer of Adaptive Biotechnologies Co. (NASDAQ:ADPT), executed a transaction on Wednesday, March 5th, where he sold 10,320 shares of the company's stock. The shares were sold at an average price of $6.98, resulting in a total sale value of $72,033.60. After this transaction, Piskel retains ownership of 269,010 shares, which are currently valued at around $1,877,689.80. This sale marks a 3.69% reduction in his total shareholding. The details of this transaction were formally disclosed in a filing to the Securities and Exchange Commission, which is available for public viewing.

Current Stock Performance of Adaptive Biotechnologies

On Thursday, the stock of Adaptive Biotechnologies experienced a decrease, falling by $0.26 to reach a price of $7.77 during mid-day trading. The trading volume for the day totaled 1,570,893 shares, which is slightly lower than the average volume of 1,648,062 shares. The current 50-day moving average stands at $7.50, while the 200-day moving average is $5.99. The company's market capitalization is approximately $1.15 billion, with a price-to-earnings ratio of -7.13 and a beta of 1.53. Over the past year, the stock has seen a low of $2.28 and a high of $8.95.

In its latest quarterly earnings report, released on February 11th, Adaptive Biotechnologies reported an earnings per share (EPS) of ($0.23), which was better than analysts' expectations of ($0.27) by $0.04. The company has posted a negative return on equity of 64.65% and a net margin of -89.12%. Compared to the same period last year, the firm improved from a ($0.30) EPS. Analysts predict that Adaptive Biotechnologies will report an EPS of -0.92 for the current fiscal year.

Institutional Investment Trends

Adaptive Biotechnologies has seen recent activity among various hedge funds regarding their investment positions in the company. Rubric Capital Management LP increased its stake by 2.9% during the third quarter, now holding 14,400,000 shares valued at $73,728,000. ARK Investment Management LLC also raised its holdings by 1.7%, with 11,601,134 shares valued at $59,398,000. Vanguard Group Inc. raised its investments by 0.7% during the fourth quarter, bringing its total to 10,714,888 shares worth approximately $64,236,000. Other institutional investors, like Sumitomo Mitsui Trust Group Inc. and Massachusetts Financial Services Co., also made significant increases in their shareholdings. Overall, institutional investors now own roughly 99.17% of Adaptive Biotechnologies stock.

Analyst Ratings and Price Targets

Several financial analysts have recently provided updates on shares of Adaptive Biotechnologies. Goldman Sachs Group raised their price target from $5.50 to $7.50 and maintained a "neutral" rating. Piper Sandler took a more optimistic view, reaffirming an "overweight" rating and increasing the price objective to $11.00 from $7.00. Scotiabank also raised their price target to $12.00 while designating a "sector outperform" rating. Similarly, BTIG Research increased its price target from $8.00 to $9.00, giving a "buy" rating. Currently, the stock has one hold rating and four buy ratings, reflecting a consensus rating of "Moderate Buy" and an average target price of $9.10.

Understanding Adaptive Biotechnologies

Company Overview

Adaptive Biotechnologies Corporation focuses on developing an immune medicine platform aimed at diagnosing and treating various diseases. The firm utilizes a cutting-edge immunosequencing platform that integrates proprietary chemistry, computational biology, and machine learning to produce clinical immunomics data, facilitating the decoding of the adaptive immune system.

CFO, Stock, Shares