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

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $25.66, for a total transaction of $304,866.46. Following the completion of the sale, the chief operating officer owned 377,802 shares in the company, valued at approximately $9,694,399.32. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 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 stock was sold at an average price of $28.13, for a total transaction of $334,212.53.

Adaptive Biotechnologies Stock Down 0.7%

Shares of ADPT opened at $26.09 on Friday. 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 52 week low of $12.00 and a 52 week high of $30.74. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -63.63 and a beta of 2.09. The stock has a fifty day moving average of $25.98 and a 200-day moving average of $20.03.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (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%.Adaptive Biotechnologies’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) EPS. As a group, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADPT. 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 report on Tuesday, September 22nd. Piper Sandler upped their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Guggenheim lifted their price target on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Finally, Morgan Stanley boosted their price objective on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Institutional Trading of Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter worth approximately $855,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth $46,000. Arizona State Retirement System increased its position in shares of Adaptive Biotechnologies by 1.3% during the second 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 period. Nykredit A S bought a new position in Adaptive Biotechnologies during the second quarter worth $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Adaptive Biotechnologies during the second quarter worth $754,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.