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 21st. The shares were sold at an average price of $25.41, for a total transaction of $301,896.21. Following the completion of the sale, the chief operating officer owned 377,802 shares in the company, valued at $9,599,948.82. The trade was a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 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 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 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 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 shares were sold at an average price of $28.13, for a total value of $334,212.53.

Adaptive Biotechnologies Trading Up 3.7%

Shares of Adaptive Biotechnologies stock opened at $25.33 on Thursday. The business’s fifty day moving average price is $26.11 and its two-hundred day moving average price is $20.75. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. 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 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). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%. The business had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. During the same quarter last year, the firm posted ($0.17) EPS. The company’s revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ADPT shares. Guggenheim upped their price objective 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. TD Cowen raised their target price on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. National Bank Financial set a $34.00 target price on shares of Adaptive Biotechnologies in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. Finally, The Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a “buy” rating and a $35.00 price target for the company. Six 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’s stock. Based on data from MarketBeat, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and an average target price of $30.06.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Adaptive Biotechnologies in the 2nd quarter worth $324,735,000. Wellington Management Group LLP boosted its stake in Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock valued at $126,799,000 after buying an additional 2,053,944 shares in the last quarter. Bank of America Corp DE bought a new position in Adaptive Biotechnologies during the second quarter valued at about $37,109,000. Capricorn Fund Managers Ltd bought a new position in Adaptive Biotechnologies during the first quarter valued at about $17,930,000. Finally, Freestone Grove Partners LP acquired a new position in Adaptive Biotechnologies during the second quarter worth about $18,912,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

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.