Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells $334,212.53 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $28.13, for a total value of $334,212.53. Following the sale, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at approximately $10,627,570.26. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 transaction of $346,806.39.

Adaptive Biotechnologies Trading Down 2.3%

NASDAQ:ADPT opened at $26.28 on Thursday. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The company has a fifty day moving average of $25.94 and a 200 day moving average of $19.94. The firm has a market capitalization of $4.19 billion, a P/E ratio of -64.10 and a beta of 2.09. 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 analysts’ consensus estimates 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 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. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, research analysts predict that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a “buy” rating and a $35.00 price objective for the company. BTIG Research lifted their price objective on Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. TD Cowen upped their target price on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, National Bank Financial set a $34.00 target price on Adaptive Biotechnologies in a research note on Tuesday, September 22nd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in Adaptive Biotechnologies during the 2nd quarter valued at about $855,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Adaptive Biotechnologies during the second quarter valued at approximately $46,000. Arizona State Retirement System increased its position in shares of Adaptive Biotechnologies by 1.3% during the second 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 in the last quarter. Nykredit A S purchased a new position in Adaptive Biotechnologies in the 2nd quarter worth approximately $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Adaptive Biotechnologies in the 2nd quarter valued at approximately $754,000. Institutional investors own 99.17% of the company’s stock.

About Adaptive Biotechnologies

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.