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 that occurred on Wednesday, October 28th. The stock was sold at an average price of $28.45, for a total transaction of $338,014.45. Following the completion of the transaction, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at approximately $10,748,466.90. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 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.
• 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 stock was sold at an average price of $28.13, for a total value of $334,212.53.

Adaptive Biotechnologies Stock Down 0.7%

Shares of NASDAQ ADPT opened at $28.17 on Friday. Adaptive Biotechnologies Corporation has a 52 week low of $12.00 and a 52 week high of $30.74. The business has a 50-day simple moving average of $26.35 and a two-hundred day simple moving average of $19.60. 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 company has a market cap of $4.50 billion, a P/E ratio of -68.71 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The company had revenue of $71.55 million for the quarter, compared to the consensus estimate of $65.44 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently added to or reduced their stakes in ADPT. Arizona State Retirement System increased its holdings in shares of Adaptive Biotechnologies by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 31,866 shares of the company’s stock worth $684,000 after buying an additional 416 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Adaptive Biotechnologies by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock valued at $205,000 after buying an additional 941 shares in the last quarter. Gibbs Wealth Management raised its position in shares of Adaptive Biotechnologies by 4.6% during the 3rd quarter. Gibbs Wealth Management now owns 26,900 shares of the company’s stock valued at $777,000 after buying an additional 1,191 shares in the last quarter. Assetmark Inc. raised its position in shares of Adaptive Biotechnologies by 46.4% during the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock valued at $61,000 after buying an additional 1,401 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth $31,000. 99.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ADPT. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. The Goldman Sachs Group started coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 target price on the stock. 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 target price on shares of Adaptive Biotechnologies in a research note on Tuesday, September 22nd. Finally, Piper Sandler raised their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and an average target price of $30.06.

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.