Kyle Piskel Sells 162,820 Shares of Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) CFO Kyle Piskel sold 162,820 shares of Adaptive Biotechnologies stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $19.50, for a total value of $3,174,990.00. Following the sale, the chief financial officer directly owned 216,637 shares of the company’s stock, valued at $4,224,421.50. This trade represents a 42.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Kyle Piskel also recently made the following trade(s):

• On Monday, November 17th, Kyle Piskel sold 238 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $14.05, for a total transaction of $3,343.90.

Adaptive Biotechnologies Price Performance

ADPT stock opened at $17.13 on Thursday. The firm’s fifty day simple moving average is $16.24 and its 200-day simple moving average is $13.12. The company has a market capitalization of $2.62 billion, a P/E ratio of -31.72 and a beta of 2.20. Adaptive Biotechnologies Corporation has a 12 month low of $5.80 and a 12 month high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $93.97 million during the quarter, compared to analysts’ expectations of $58.76 million. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The firm’s revenue was up 102.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) earnings per share. As a group, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sound Income Strategies LLC acquired a new stake in Adaptive Biotechnologies in the 3rd quarter valued at $30,000. Smartleaf Asset Management LLC lifted its holdings in Adaptive Biotechnologies by 593.5% during the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after purchasing an additional 3,371 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Adaptive Biotechnologies in the first quarter valued at about $84,000. Candriam S.C.A. acquired a new stake in shares of Adaptive Biotechnologies in the first quarter valued at about $90,000. Finally, Caxton Associates LLP purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth about $93,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on ADPT shares. TD Cowen raised their target price on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Morgan Stanley initiated coverage on Adaptive Biotechnologies in a research report on Monday. They issued an “equal weight” rating and a $21.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Piper Sandler increased their price target on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.11.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.