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

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the firm’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $24.05, for a total value of $285,738.05. Following the transaction, the chief operating officer directly owned 377,802 shares in the company, valued at $9,086,138.10. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Wednesday, October 21st, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.41, for a total value of $301,896.21.
• On Thursday, October 15th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $25.61, for a total value of $304,272.41.
• On Tuesday, October 13th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were 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 shares were sold at an average price of $25.66, for a total value of $304,866.46.
• On Monday, October 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $29.19, for a total value of $346,806.39.
• On Friday, October 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $28.13, for a total value of $334,212.53.

Adaptive Biotechnologies Stock Up 3.7%

Shares of Adaptive Biotechnologies stock opened at $25.33 on Thursday. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The business’s 50 day simple moving average is $26.11 and its two-hundred day simple moving average is $20.75. Adaptive Biotechnologies Corporation has a one year low of $12.00 and a one year high of $30.74.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADPT. Piper Sandler increased their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. The Goldman Sachs Group initiated coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a “buy” rating and a $35.00 price target on the stock. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. Finally, National Bank Financial set a $34.00 price objective on shares of Adaptive Biotechnologies in a research note on Tuesday, September 22nd. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.06.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of ADPT. Nykredit A S bought a new stake in shares of Adaptive Biotechnologies in the 2nd quarter worth approximately $31,000. Allworth Financial LP purchased a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $28,000. Integrated Wealth Concepts LLC bought a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $46,000. Finally, KBC Group NV bought a new position in shares of Adaptive Biotechnologies during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation (NASDAQ: ADPT) is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and research tools. Based in Seattle, Washington, the company analyzes immune-cell receptors to help identify and measure disease, support drug development and improve understanding of immune responses.

Adaptive’s products include clonoSEQ, a clinical assay used to detect and monitor measurable residual disease in certain blood cancers, including multiple myeloma, acute lymphoblastic leukemia and chronic lymphocytic leukemia.