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

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $26.53, for a total transaction of $315,202.93. Following the completion of the sale, the chief operating officer directly owned 377,802 shares in the company, valued at approximately $10,023,087.06. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a document filed 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 Friday, October 30th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $26.73, for a total transaction of $317,579.13.
• On Monday, November 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.47, for a total transaction of $302,609.07.
• On Wednesday, October 28th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.45, for a total transaction of $338,014.45.
• On Monday, October 26th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $26.04, for a total transaction of $309,381.24.
• 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 transaction of $296,787.38.
• 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 value of $285,738.05.
• On Wednesday, October 21st, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 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.

Adaptive Biotechnologies Stock Up 4.3%

Shares of NASDAQ:ADPT traded up $1.15 during midday trading on Friday, reaching $27.98. 3,333,510 shares of the company traded hands, compared to its average volume of 2,050,401. The firm’s fifty day moving average price is $26.42 and its two-hundred day moving average price is $19.86. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. Adaptive Biotechnologies Corporation has a 12 month low of $12.00 and a 12 month high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) 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 $83.90 million during the quarter, compared to analyst estimates of $71.57 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. Analysts predict that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ADPT shares. The Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 price target on the stock. Guggenheim increased their price objective on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. Morgan Stanley increased their price objective on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. Finally, BTIG Research raised their price target on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating 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 stock. According to data from MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average price target of $30.06.

Institutional Trading of Adaptive Biotechnologies

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at about $324,735,000. Wellington Management Group LLP grew its stake in Adaptive Biotechnologies by 53.2% in 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 last quarter. Bank of America Corp DE purchased a new position in Adaptive Biotechnologies in the second quarter valued at about $37,109,000. Principal Financial Group Inc. grew its stake in 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 during the last quarter. Finally, Freestone Grove Partners LP bought a new position in Adaptive Biotechnologies in the second quarter worth about $18,912,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

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.