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 company’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $25.50, for a total value of $302,965.50. Following the sale, the chief operating officer owned 377,802 shares of the company’s stock, valued at $9,633,951. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing 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 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 transaction 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 Performance

Shares of ADPT opened at $25.62 on Thursday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The stock has a market capitalization of $4.09 billion, a P/E ratio of -62.49 and a beta of 2.09. The company’s fifty day moving average is $26.14 and its two-hundred day moving average is $20.36. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced 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). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%. The firm had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $65.44 million. During the same quarter in the previous year, the company posted ($0.17) EPS. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts predict that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ADPT shares. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Morgan Stanley lifted their price objective on Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday. Guggenheim boosted their target price on Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. TD Cowen boosted their target price on Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Six equities 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’s stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and an average price target of $30.06.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at about $324,735,000. Wellington Management Group LLP lifted its stake in shares of 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 period. Bank of America Corp DE acquired a new stake in shares of Adaptive Biotechnologies in 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 worth $23,664,000 after buying an additional 152,378 shares in the last quarter. Finally, Capricorn Fund Managers Ltd purchased a new stake in Adaptive Biotechnologies during the first quarter worth about $17,930,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Company Profile

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.