Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells $301,896.21 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $25.41, for a total value of $301,896.21. Following the completion of the sale, the chief operating officer directly owned 377,802 shares in the company, valued at $9,599,948.82. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Monday, October 19th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $24.05, for a total transaction of $285,738.05.
• 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 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 value of $334,212.53.

Adaptive Biotechnologies Stock Up 4.5%

Shares of ADPT opened at $25.51 on Friday. 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 business has a fifty day moving average of $26.13 and a 200 day moving average of $20.85. The company has a market cap of $4.07 billion, a PE ratio of -62.22 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 posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. On average, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADPT. Piper Sandler increased their price objective on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. BTIG Research boosted their target price on Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. The Goldman Sachs Group assumed coverage on Adaptive Biotechnologies in a research note on Tuesday, September 29th. They set a “buy” rating and a $35.00 target price on the stock. National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a report on Tuesday, September 22nd. Finally, Guggenheim raised their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.06.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of large investors have recently made changes to their positions in the business. Wasatch Advisors LP purchased a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at $12,361,000. Renaissance Technologies LLC acquired a new stake in shares of Adaptive Biotechnologies in the first quarter worth $3,328,000. Handelsbanken Fonder AB purchased a new position in shares of Adaptive Biotechnologies during the second quarter worth $1,416,000. Wellington Management Group LLP raised its holdings in shares of Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock worth $126,799,000 after purchasing an additional 2,053,944 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Adaptive Biotechnologies during the second quarter valued at $9,207,000. 99.17% of the stock is owned by institutional investors and hedge funds.

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.