Robert Hershberg Sells 2,000 Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Director Robert Hershberg sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $42.58, for a total value of $85,160.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $85,160. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of NASDAQ ADPT traded down $0.21 during mid-day trading on Wednesday, hitting $45.74. 1,435,753 shares of the company traded hands, compared to its average volume of 1,144,695. Adaptive Biotechnologies Corporation has a 1 year low of $15.19 and a 1 year high of $49.00. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of -57.90 and a beta of 0.40. The business has a 50 day moving average of $39.60 and a two-hundred day moving average of $36.00.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Monday, August 10th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. Adaptive Biotechnologies had a negative return on equity of 17.78% and a negative net margin of 107.96%. The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $18.80 million. During the same period in the prior year, the business posted ($1.23) earnings per share. Adaptive Biotechnologies’s revenue was down 4.5% compared to the same quarter last year. As a group, equities analysts expect that Adaptive Biotechnologies Corporation will post -1.09 EPS for the current fiscal year.

Several analysts have recently weighed in on ADPT shares. Morgan Stanley started coverage on Adaptive Biotechnologies in a report on Wednesday, September 9th. They issued an “equal weight” rating and a $42.00 price objective for the company. ValuEngine lowered Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Goldman Sachs Group started coverage on Adaptive Biotechnologies in a report on Wednesday, June 3rd. They issued a “buy” rating and a $60.00 price objective for the company. Zacks Investment Research lowered Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, William Blair restated an “outperform” rating on shares of Adaptive Biotechnologies in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Adaptive Biotechnologies has a consensus rating of “Buy” and an average price target of $49.40.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Adaptive Biotechnologies during the second quarter valued at $1,022,000. Principal Financial Group Inc. raised its position in Adaptive Biotechnologies by 201.2% during the second quarter. Principal Financial Group Inc. now owns 208,047 shares of the company’s stock valued at $10,065,000 after buying an additional 138,977 shares during the period. PNC Financial Services Group Inc. raised its position in Adaptive Biotechnologies by 922.3% during the second quarter. PNC Financial Services Group Inc. now owns 6,635 shares of the company’s stock valued at $322,000 after buying an additional 5,986 shares during the period. Neuberger Berman Group LLC raised its position in Adaptive Biotechnologies by 246.2% during the second quarter. Neuberger Berman Group LLC now owns 1,723,347 shares of the company’s stock valued at $83,389,000 after buying an additional 1,225,502 shares during the period. Finally, AdvisorNet Financial Inc acquired a new position in Adaptive Biotechnologies during the second quarter valued at $109,000. 74.26% of the stock is owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

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.

Recommended Story: Cash Asset Ratio

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.