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

Key Points

• COO Julie Rubinstein sold 11,881 Adaptive Biotechnologies shares at an average price of $28.45, generating $338,014.45. The Rule 10b5-1 plan transaction reduced her direct holdings by 3.05% to 377,802 shares.
• Rubinstein has made a series of similarly sized sales throughout October, selling 11,881 shares in each reported transaction at prices ranging from $24.05 to $29.19.
• ADPT traded near $28.17, close to its 12-month high of $30.74. Analysts maintain a “Moderate Buy” consensus with an average price target of $30.06, although the company recently missed EPS estimates despite reporting 21.5% year-over-year revenue growth.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $28.45, for a total transaction of $338,014.45. Following the completion of the sale, the chief operating officer directly owned 377,802 shares of the company's stock, valued at $10,748,466.90. This trade represents a 3.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 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 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 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 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 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.
• 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 stock was sold at an average price of $28.13, for a total transaction of $334,212.53.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock traded down $0.20 on Thursday, reaching $28.17. The company's stock had a trading volume of 2,588,817 shares, compared to its average volume of 2,042,233. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $30.74. 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 business's fifty day moving average price is $26.35 and its 200 day moving average price is $19.60.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (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 the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the business posted ($0.17) EPS. As a group, equities research analysts forecast that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

ADPT has been the subject of a number of recent research reports. Piper Sandler upped their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Morgan Stanley raised their target price on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Monday, October 12th. National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a report on Tuesday, September 22nd. TD Cowen increased their price target 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. Finally, Guggenheim lifted their price objective on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, October 1st. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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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