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 company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $24.98, for a total transaction of $296,787.38. Following the completion of the sale, the chief operating officer owned 377,802 shares in the company, valued at approximately $9,437,493.96. This trade represents a 3.05% decrease in their position. The sale was disclosed in a 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 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 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 shares were 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 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 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 shares were 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 3.0%

Adaptive Biotechnologies stock traded up $0.76 during mid-day trading on Monday, reaching $26.27. The company’s stock had a trading volume of 1,164,225 shares, compared to its average volume of 2,124,122. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $30.74. The business has a 50 day moving average price of $26.17 and a 200-day moving average price of $19.42.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted 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). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%. The business had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The company’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 year.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently made changes to their positions in ADPT. BlackRock Inc. acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth approximately $324,735,000. Wellington Management Group LLP increased its position in Adaptive Biotechnologies by 53.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock valued at $126,799,000 after acquiring an additional 2,053,944 shares during the period. Bank of America Corp DE acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at approximately $37,109,000. Principal Financial Group Inc. raised its stake in Adaptive Biotechnologies by 9.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock valued at $23,664,000 after acquiring an additional 152,378 shares in the last quarter. Finally, Capricorn Fund Managers Ltd bought a new stake in Adaptive Biotechnologies during the 1st quarter valued at $17,930,000. Institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen raised their price target on Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. BTIG Research upped their price objective on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. 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 note on Tuesday, August 4th. Finally, The Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 price target for the company. Six 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.06.

Adaptive Biotechnologies Company Profile

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.