Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells $315,202.93 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $26.53, for a total transaction of $315,202.93. Following the completion of the transaction, the chief operating officer directly owned 377,802 shares in the company, valued at $10,023,087.06. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 30th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $26.73, for a total value of $317,579.13.
• On Monday, November 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $25.47, for a total value of $302,609.07.
• On Wednesday, October 28th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.45, for a total value of $338,014.45.
• On Monday, October 26th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were 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 value of $296,787.38.
• On Monday, October 19th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 value of $301,896.21.
• On Thursday, October 15th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $27.98 on Monday. Adaptive Biotechnologies Corporation has a 52-week low of $12.00 and a 52-week high of $30.74. The company has a market capitalization of $4.53 billion, a PE ratio of -62.18 and a beta of 2.18. The stock has a fifty day simple moving average of $26.42 and a two-hundred day simple moving average of $19.86. The company has a quick ratio of 3.87, a current ratio of 3.97 and a debt-to-equity ratio of 1.82.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The business had revenue of $83.90 million for the quarter, compared to analyst estimates of $71.57 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. As a group, equities analysts forecast that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current year.

Wall Street Analysts Forecast Growth

ADPT has been the topic of a number of analyst reports. 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 note on Thursday, October 1st. 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 note on Tuesday, August 4th. Morgan Stanley raised their price target on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. TD Cowen lifted their price target on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Finally, BTIG Research lifted their price target 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. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.06.

Institutional Trading of Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently modified their holdings of ADPT. BlackRock Inc. purchased a new stake in Adaptive Biotechnologies during the second quarter worth about $324,735,000. Wellington Management Group LLP lifted its position in shares of Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock worth $126,799,000 after purchasing an additional 2,053,944 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Adaptive Biotechnologies in the second quarter valued at approximately $37,109,000. Freestone Grove Partners LP purchased a new position in shares of Adaptive Biotechnologies in the second quarter valued at approximately $18,912,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Adaptive Biotechnologies in the second quarter valued at approximately $16,858,000. 99.17% of the stock is owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development.

Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.