Adaptive Biotechnologies (NASDAQ:ADPT) COO Julie Rubinstein Sells 11,466 Shares of Stock

Key Points

• COO Julie Rubinstein sold 11,466 Adaptive Biotechnologies shares at an average of $28.93, totaling about $331,711. The transaction was made under a pre-arranged Rule 10b5-1 plan; she retained 377,802 shares afterward.
• Rubinstein also made multiple share sales in recent weeks, generally selling 11,881 shares per transaction.
• Adaptive reported quarterly EPS of $0.02, beating the consensus estimate of a $0.10 loss, and revenue of $83.9 million, above expectations but down 10.7% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $30.31.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,466 shares of the stock in a transaction on Friday, November 13th. The shares were sold at an average price of $28.93, for a total transaction of $331,711.38. Following the completion of the sale, the chief operating officer owned 377,802 shares of the company's stock, valued at approximately $10,929,811.86. This represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, November 12th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $29.40, for a total transaction of $349,301.40.
• On Monday, November 9th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $30.12, for a total transaction of $357,855.72.
• On Thursday, November 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $26.53, for a total transaction of $315,202.93.
• 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 shares were 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 value of $338,014.45.
• On Monday, October 26th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $26.04, for a total value of $309,381.24.
• On Friday, October 23rd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $24.98, for a total value of $296,787.38.
• On Monday, October 19th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $24.05, for a total value of $285,738.05.
• 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.

Adaptive Biotechnologies Stock Performance

Shares of ADPT traded down $0.44 during mid-day trading on Friday, reaching $29.04. The company's stock had a trading volume of 2,063,725 shares, compared to its average volume of 2,197,728. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $32.21. The stock has a market cap of $4.70 billion, a P/E ratio of -64.53 and a beta of 2.18. The business has a 50-day simple moving average of $26.91 and a two-hundred day simple moving average of $20.13. The company has a current ratio of 3.97, a quick ratio of 3.87 and a debt-to-equity ratio of 1.82.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.12. The company had revenue of $83.90 million during the quarter, compared to the consensus estimate of $71.57 million. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The firm's revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. As a group, equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP acquired a new position in Adaptive Biotechnologies in the 2nd quarter valued at $12,361,000. Renaissance Technologies LLC bought a new position in Adaptive Biotechnologies during the 1st quarter worth $3,328,000. Handelsbanken Fonder AB bought a new position in Adaptive Biotechnologies during the 2nd quarter worth $1,416,000. Wellington Management Group LLP lifted its holdings in shares of Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock worth $126,799,000 after buying an additional 2,053,944 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth $9,207,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADPT has been the subject of a number of research analyst reports. TD Cowen lifted their price objective on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, October 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. Guggenheim raised their target price on shares of Adaptive Biotechnologies from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, September 22nd. Finally, National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a research note on Tuesday, September 22nd. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.31.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.

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