Insider Selling: 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 firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $25.61, for a total transaction of $304,272.41. Following the completion of the sale, the chief operating officer owned 377,802 shares of the company’s stock, valued at $9,675,509.22. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Julie Rubinstein also recently made the following trade(s):

• 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 transaction 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 transaction 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 stock was sold at an average price of $28.13, for a total transaction of $334,212.53.

Adaptive Biotechnologies Stock Down 6.1%

Adaptive Biotechnologies stock traded down $1.56 during midday trading on Friday, reaching $24.02. The stock had a trading volume of 1,947,218 shares, compared to its average volume of 2,400,848. 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 company has a fifty day moving average of $26.16 and a 200 day moving average of $20.48.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) 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 business had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $65.44 million. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Equities analysts predict that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $28,000. Nykredit A S bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth $31,000. Allworth Financial LP bought a new position in Adaptive Biotechnologies during the 2nd quarter worth about $35,000. KBC Group NV purchased a new stake in shares of Adaptive Biotechnologies in the 1st quarter worth approximately $45,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $46,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Cowen raised their price target on Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler upped their price objective on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. National Bank Financial set a $34.00 target price on Adaptive Biotechnologies in a research note on Tuesday, September 22nd. The Goldman Sachs Group assumed coverage on Adaptive Biotechnologies in a research report on Tuesday, September 29th. They set a “buy” rating and a $35.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average price target of $30.06.

About Adaptive Biotechnologies

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.