Adaptive Biotechnologies (NASDAQ:ADPT) Stock: Insider Julie Rubinstein Sells 11,881 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $26.53, for a total transaction of $315,202.93. Following the completion of the transaction, the chief operating officer owned 377,802 shares of the company’s stock, valued at $10,023,087.06. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Friday, October 30th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $26.73, for a total transaction of $317,579.13.
• On Monday, November 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.47, for a total transaction of $302,609.07.
• On Wednesday, October 28th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $28.45, for a total transaction of $338,014.45.
• 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 transaction 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 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 transaction of $304,866.46.

Adaptive Biotechnologies Trading Up 4.3%

Shares of NASDAQ:ADPT opened at $27.98 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 moving average price of $26.42 and a 200-day moving average price of $19.86. The company has a quick ratio of 4.68, a current ratio of 3.97 and a debt-to-equity ratio of 1.82. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -62.18 and a beta of 2.18.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The company had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $71.57 million. During the same period last year, the business earned $0.06 earnings per share. Adaptive Biotechnologies’s quarterly revenue was down 10.7% on a year-over-year basis. Equities analysts predict that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current year.

Wall Street Analyst Weigh In

ADPT has been the subject of several recent analyst reports. The Goldman Sachs Group began coverage on Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a “buy” rating and a $35.00 price target for the company. Guggenheim increased their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. TD Cowen raised their price objective on Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Thursday, October 15th. Finally, Morgan Stanley boosted their price objective on Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.06.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Nykredit A S acquired a new stake in Adaptive Biotechnologies in the 2nd quarter worth about $31,000. Allworth Financial LP purchased a new stake in Adaptive Biotechnologies during the 2nd quarter worth approximately $35,000. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies during the first quarter valued at approximately $45,000. Integrated Wealth Concepts LLC acquired a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $46,000. Finally, Assetmark Inc. raised its holdings in shares of Adaptive Biotechnologies by 46.4% during the first quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock valued at $61,000 after acquiring an additional 1,401 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.