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

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $26.04, for a total value of $309,381.24. Following the sale, the chief operating officer owned 377,802 shares of the company’s stock, valued at approximately $9,837,964.08. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 Friday, October 23rd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $24.98, for a total value of $296,787.38.
• On Monday, October 19th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $24.05, for a total value of $285,738.05.
• 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 value 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 value of $304,272.41.
• On Tuesday, October 13th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 shares were 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 3.0%

Shares of NASDAQ ADPT traded up $0.76 during trading hours on Monday, hitting $26.27. The stock had a trading volume of 1,164,225 shares, compared to its average volume of 2,124,122. The firm’s 50-day moving average price is $26.17 and its two-hundred day moving average price is $19.42. Adaptive Biotechnologies Corporation has a 52 week low of $12.00 and a 52 week high of $30.74. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). The firm had revenue of $71.55 million during the quarter, compared to analyst estimates of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) EPS. On average, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADPT shares. BTIG Research raised their target price on Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Piper Sandler boosted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. National Bank Financial set a $34.00 price objective on Adaptive Biotechnologies in a report on Tuesday, September 22nd. Finally, The Goldman Sachs Group initiated coverage on Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a “buy” rating and a $35.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.06.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Adaptive Biotechnologies in the 2nd quarter worth approximately $324,735,000. Wellington Management Group LLP increased its position 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 valued at $126,799,000 after purchasing an additional 2,053,944 shares during the period. Bank of America Corp DE bought a new stake in shares of Adaptive Biotechnologies during the second quarter valued at approximately $37,109,000. Principal Financial Group Inc. raised its stake in shares of Adaptive Biotechnologies by 9.8% in the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock valued at $23,664,000 after purchasing an additional 152,378 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Adaptive Biotechnologies in the second quarter valued at $18,912,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Company Profile

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.