Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells 11,881 Shares of Company Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $28.45, for a total value of $338,014.45. Following the completion of the sale, the chief operating officer owned 377,802 shares in the company, valued at $10,748,466.90. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 26th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $26.04, for a total value of $309,381.24.
• On Friday, October 23rd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $24.98, for a total transaction of $296,787.38.
• On Monday, October 19th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $24.05, for a total value of $285,738.05.
• 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 transaction 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 stock was sold at an average price of $25.50, for a total transaction 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 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 shares were sold at an average price of $28.13, for a total transaction of $334,212.53.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT traded down $0.20 on Thursday, hitting $28.17. The company’s stock had a trading volume of 2,588,817 shares, compared to its average volume of 2,042,233. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. The company’s 50-day simple moving average is $26.35 and its 200 day simple moving average is $19.60. Adaptive Biotechnologies Corporation has a 52-week low of $12.00 and a 52-week high of $30.74.

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 the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The company had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $65.44 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. Adaptive Biotechnologies’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, analysts expect that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at $236,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Adaptive Biotechnologies by 14.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 29,120 shares of the company’s stock valued at $838,000 after acquiring an additional 3,649 shares in the last quarter. Gibbs Wealth Management lifted its holdings in Adaptive Biotechnologies by 4.6% in the 3rd quarter. Gibbs Wealth Management now owns 26,900 shares of the company’s stock worth $777,000 after purchasing an additional 1,191 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Adaptive Biotechnologies by 870.8% in the 3rd quarter. Sterling Capital Management LLC now owns 5,252 shares of the company’s stock worth $152,000 after purchasing an additional 4,711 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new position in Adaptive Biotechnologies in the 3rd quarter worth approximately $243,000. 99.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADPT. The Goldman Sachs Group started coverage on Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Guggenheim lifted their target price on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Finally, National Bank Financial set a $34.00 target price 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 issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.06.

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.