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 stock in a transaction on Monday, October 5th. The stock was sold at an average price of $29.19, for a total value of $346,806.39. Following the completion of the sale, the chief operating officer owned 377,802 shares in the company, valued at $11,028,040.38. This trade represents a 3.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 transaction of $334,212.53.

Adaptive Biotechnologies Trading Up 5.3%

NASDAQ:ADPT traded up $1.49 during trading hours on Monday, reaching $29.84. The company’s stock had a trading volume of 1,424,680 shares, compared to its average volume of 2,400,319. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The firm has a 50-day simple moving average of $25.78 and a 200-day simple moving average of $19.76. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -72.78 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $29.96.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The firm had revenue of $71.55 million for 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 was up 21.5% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. Research analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ADPT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a report on Tuesday, September 22nd. The Goldman Sachs Group assumed coverage on Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a “buy” rating and a $35.00 target price on the stock. TD Cowen boosted their price objective on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, 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 research note on Tuesday, September 22nd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.94.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ADPT. Arizona State Retirement System boosted its holdings in Adaptive Biotechnologies by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 31,866 shares of the company’s stock valued at $684,000 after acquiring an additional 416 shares during the period. PNC Financial Services Group Inc. grew its stake in Adaptive Biotechnologies by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock valued at $205,000 after purchasing an additional 941 shares during the last quarter. Assetmark Inc. raised its stake in Adaptive Biotechnologies by 46.4% in the first quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock valued at $61,000 after buying an additional 1,401 shares during the last quarter. Nykredit A S purchased a new stake in Adaptive Biotechnologies during the 2nd quarter worth approximately $31,000. Finally, Allworth Financial LP purchased a new stake in Adaptive Biotechnologies in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.