We recently published
December Disappointments: 10 Big Names Troubled Early. Adaptive Biotechnologies Corp. (NASDAQ:ADPT) is one of the worst performers of last week.
Adaptive Biotechnologies fell by 24.5 percent week-on-week as investors took path from three key executives’ disposition of a significant stake in the company.
In separate regulatory filings last week, Adaptive Biotechnologies Corp. (NASDAQ:ADPT) said that Chairman and CEO Chad Robins, his elder brother, Harlan, who is currently chief scientific officer, as well as Chief Finance Officer Kyle Piskel, unloaded their portfolios in the company over the past few days.
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The younger Robins alone sold $3.07 million of his shares through two rounds of share sales on November 26 and December 1, with prices averaging $18.94 to $19.68 apiece.
On November 28, Piskel followed with the sale of $3.17 million of his shares, covering 162,820 at a price of $19.5 apiece. However, he also acquired worth $1.25 million of new shares at a price of $6.55 to $12.14 apiece.
Meanwhile, the elder Robins disposed of $672,515 worth of shares in the company at a price of $16.61 to $18.61 each.
Adaptive Biotechnologies Corp. (NASDAQ:ADPT) said that the transactions were in line with the Rule 10b5-1 trading plan adopted in August this year.
Typically, ordinary investors view insider selling in a negative light due to business concerns, although some transactions are only caused by profit-taking, diversification, and other personal reasons, among others.
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