Adaptive Biotechnologies (NASDAQ:ADPT) COO Julie Rubinstein Sells 11,881 Shares of Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $25.61, for a total value of $304,272.41. Following the sale, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at $9,675,509.22. 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• 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 transaction of $334,212.53.

Adaptive Biotechnologies Stock Down 6.1%

ADPT traded down $1.56 during midday trading on Friday, hitting $24.02. 1,947,218 shares of the company’s stock traded hands, compared to its average volume of 2,400,848. 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 company has a market cap of $3.83 billion, a PE ratio of -58.59 and a beta of 2.09. The stock’s fifty day simple moving average is $26.16 and its 200-day simple moving average is $20.48. Adaptive Biotechnologies Corporation has a one year low of $12.00 and a one year high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its 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 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 period in the prior year, the firm earned ($0.17) earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADPT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Thursday. National Bank Financial set a $34.00 target price on shares of Adaptive Biotechnologies in a research report on Tuesday, September 22nd. The Goldman Sachs Group started coverage on Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 target price on the stock. TD Cowen boosted their price target on Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BTIG Research boosted their price target on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.06.

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Adaptive Biotechnologies in the 2nd quarter valued at $324,735,000. Wellington Management Group LLP lifted its position 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. Bank of America Corp DE bought a new stake in Adaptive Biotechnologies during the second quarter valued at about $37,109,000. Principal Financial Group Inc. boosted its holdings in Adaptive Biotechnologies by 9.8% during the first 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 during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $18,912,000. Institutional investors and hedge funds 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.