Adaptive Biotechnologies (NASDAQ:ADPT) Stock: Insider Julie Rubinstein Sells 11,881 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $25.61, for a total value of $304,272.41. Following the completion of the transaction, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at $9,675,509.22. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Julie Rubinstein also recently made the following trade(s):

• On Tuesday, October 13th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.50, for a total value of $302,965.50.
• On Thursday, October 8th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.66, for a total transaction of $304,866.46.
• On Monday, October 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $29.19, for a total transaction of $346,806.39.
• On Friday, October 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.13, for a total transaction of $334,212.53.

Adaptive Biotechnologies Stock Performance

ADPT opened at $24.02 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. The firm has a fifty day moving average price of $26.16 and a 200 day moving average price of $20.48. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $30.74. The stock has a market cap of $3.83 billion, a P/E ratio of -58.59 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The firm had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. Equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ADPT. Wasatch Advisors LP purchased a new stake in Adaptive Biotechnologies in the 2nd quarter worth $12,361,000. Renaissance Technologies LLC acquired a new position in Adaptive Biotechnologies during the first quarter worth $3,328,000. Handelsbanken Fonder AB purchased a new position in Adaptive Biotechnologies during the second quarter valued at $1,416,000. Wellington Management Group LLP lifted its holdings in Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock valued at $126,799,000 after purchasing an additional 2,053,944 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Adaptive Biotechnologies during the second quarter valued at $9,207,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 29th. They set a “buy” rating and a $35.00 target price on the stock. Piper Sandler raised their target price on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Guggenheim lifted their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Morgan Stanley lifted their price target on Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, October 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Thursday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.06.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.

The company’s product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.