Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells $285,738.05 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the company’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $24.05, for a total transaction of $285,738.05. Following the completion of the transaction, the chief operating officer owned 377,802 shares in the company, valued at approximately $9,086,138.10. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 transaction 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 transaction 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 stock was 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 shares were sold at an average price of $28.13, for a total value of $334,212.53.

Adaptive Biotechnologies Stock Up 4.5%

ADPT stock opened at $25.51 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -62.22 and a beta of 2.09. The business’s fifty day moving average price is $26.13 and its two-hundred day moving average price is $20.85. Adaptive Biotechnologies Corporation has a fifty-two week low of $12.00 and a fifty-two week high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) 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 business had revenue of $71.55 million during the quarter, compared to analyst estimates of $65.44 million. During the same quarter last year, the company posted ($0.17) earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds have recently added to or reduced their stakes in ADPT. Wasatch Advisors LP purchased a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $12,361,000. Renaissance Technologies LLC bought a new position in Adaptive Biotechnologies during the 1st quarter valued at $3,328,000. Handelsbanken Fonder AB purchased a new position in Adaptive Biotechnologies during the 2nd quarter worth $1,416,000. Wellington Management Group LLP boosted its holdings in Adaptive Biotechnologies by 53.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock worth $126,799,000 after acquiring an additional 2,053,944 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Adaptive Biotechnologies in the 2nd quarter worth $9,207,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ADPT. BTIG Research boosted their target price on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Piper Sandler increased their price objective 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. National Bank Financial set a $34.00 target price on shares of Adaptive Biotechnologies in a research report on Tuesday, September 22nd. TD Cowen raised their price objective on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Finally, Guggenheim increased their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.