Adaptive Biotechnologies (NASDAQ:ADPT) COO Julie Rubinstein Sells 11,881 Shares of Company Stock

Key Points

• COO Julie Rubinstein sold 11,881 ADPT shares for approximately $285,738 at an average price of $24.05, reducing her stake by 3.05%. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan, and she retained 377,802 shares.
• Adaptive Biotechnologies reported quarterly revenue of $71.55 million, up 21.5% year over year and above estimates, but posted an EPS loss of $0.25 versus the expected $0.13 loss.
• Shares recently traded at $25.33, while analysts maintained an overall “Moderate Buy” consensus with an average price target of $30.06; institutional investors own 99.17% of the company.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the company's stock in a transaction on Monday, October 19th. The stock was sold at an average price of $24.05, for a total transaction of $285,738.05. Following the transaction, the chief operating officer owned 377,802 shares of the company's stock, valued at approximately $9,086,138.10. The trade was a 3.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 stock was sold at an average price of $25.41, for a total transaction 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 transaction of $304,272.41.
• On Tuesday, October 13th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were 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 stock was 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 stock was 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 Performance

NASDAQ ADPT traded up $0.91 during trading hours on Wednesday, hitting $25.33. 1,718,972 shares of the stock were exchanged, compared to its average volume of 2,292,673. The company has a market cap of $4.04 billion, a price-to-earnings ratio of -61.78 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $30.74. The stock has a 50-day moving average of $26.11 and a 200 day moving average of $20.68. 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 (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $71.55 million during the quarter, compared to analyst estimates of $65.44 million. During the same quarter in the previous year, the business earned ($0.17) EPS. Adaptive Biotechnologies's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Large investors have recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of Adaptive Biotechnologies by 1.3% in the second quarter. Arizona State Retirement System now owns 31,866 shares of the company's stock valued at $684,000 after purchasing an additional 416 shares during the period. PNC Financial Services Group Inc. grew its position in Adaptive Biotechnologies by 6.8% during the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company's stock worth $205,000 after buying an additional 941 shares during the period. Assetmark Inc. grew its position in Adaptive Biotechnologies by 46.4% during the first quarter. Assetmark Inc. now owns 4,421 shares of the company's stock worth $61,000 after buying an additional 1,401 shares during the period. Nykredit A S acquired a new position in Adaptive Biotechnologies during the second quarter worth about $31,000. Finally, Allworth Financial LP acquired a new position in Adaptive Biotechnologies during the second quarter worth about $35,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ADPT. BTIG Research increased their target price on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, September 22nd. TD Cowen lifted their price target on Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, October 13th. Guggenheim lifted their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, October 1st. Morgan Stanley upped their price objective on Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an "equal weight" rating in a report on Monday, October 12th. Finally, Piper Sandler increased 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. 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 stock. Based on data from MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and a consensus price target of $30.06.

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.

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