The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Adaptive Biotechnologies Corp shares valued at $167,007 were sold by ROBINS CHAD M on Mar 05 ’24. At $3.43 per share, ROBINS CHAD M sold 48,673 shares. The insider’s holdings dropped to 2,576,701 shares worth approximately $6.75 million following the completion of this transaction.
Also, RUBINSTEIN JULIE sold 39,070 shares, netting a total of over 135,764 in proceeds. Following the sale of shares at $3.47 each, the insider now holds 472,754 shares.
Before that, BENZENO SHARON had sold 29,390 shares from its account. In a trade valued at $100,994, the Chief Commercial Ofc Imm Med traded Adaptive Biotechnologies Corp shares for $3.44 each. Upon closing the transaction, the insider’s holdings decreased to 29,390 shares, worth approximately $0.86 million.
Analysts at Scotiabank started covering the stock with ‘”a Sector outperform”‘ outlook in a report released in early January. As of December 21, 2022, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for ADPT. Earlier on August 25, 2022, Credit Suisse initiated its rating. Their recommendation was “an Underperform” for ADPT stock.
Analyzing ADPT Stock Performance
During the last five days, there has been a drop of approximately -4.03%. Over the course of the year, Adaptive Biotechnologies Corp shares have dropped approximately -46.53%. Shares of the company reached a 52-week high of $5.07 on 01/02/24 and a 52-week low of $2.53 on 04/11/24. A 50-day SMA is recorded $3.49, while a 200-day SMA reached $4.96. Nevertheless, trading volume fell to 1.02 million shares from 1.31 million shares the previous day.
Support And Resistance Levels for Adaptive Biotechnologies Corp (ADPT)
According to the 24-hour chart, there is a support level at 2.53, which, if violated, would cause prices to drop to 2.44. In the upper region, resistance lies at 2.71. The next price resistance is at 2.80. RSI (Relative Strength Index) is 36.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.15, which suggests the price will decrease in the coming days. Percent R is at 88.82%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Adaptive Biotechnologies Corp subject to short interest?
Stocks of Adaptive Biotechnologies Corp saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.73 million shares to 8.46 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 9.19 million shares. A decline of -8.63% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.17 of the overall float, the days-to-cover ratio (short ratio) decline to 5.17.
