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 company’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $24.05, for a total value of $285,738.05. Following the completion of the sale, the chief operating officer owned 377,802 shares in the company, valued at approximately $9,086,138.10. This 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 21st, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were 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 shares were 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 stock was 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 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 stock was 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 Price Performance

Adaptive Biotechnologies stock traded up $0.91 during trading hours on Wednesday, hitting $25.33. The stock had a trading volume of 1,718,972 shares, compared to its average volume of 2,292,673. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of -61.78 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $30.74. The stock’s fifty day moving average is $26.11 and its two-hundred day moving average is $20.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The business had revenue of $71.55 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. As a group, analysts predict that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADPT shares. BTIG Research increased their price target 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. The Goldman Sachs Group assumed coverage on Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 target price on the stock. Morgan Stanley boosted their price target on Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. Piper Sandler lifted their price objective on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, National Bank Financial set a $34.00 price objective on Adaptive Biotechnologies in a research report on Tuesday, September 22nd. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.06.

Hedge Funds Weigh In On Adaptive Biotechnologies

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

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.