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

Key Points

• COO Julie Rubinstein sold 11,881 Adaptive Biotechnologies shares for approximately $302,966 at an average price of $25.50, reducing her direct ownership by 3.05% to 377,802 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, following three similar sales earlier in October.
• ADPT shares fell 1.1% to $25.28, while the company’s latest quarterly results showed a wider-than-expected loss of $0.25 per share despite revenue of $71.55 million, up 21.5% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $30.06; six analysts rate the stock Buy, one Hold and one Sell.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the company's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $25.50, for a total value of $302,965.50. Following the sale, the chief operating officer directly owned 377,802 shares of the company's stock, valued at approximately $9,633,951. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 shares were sold at an average price of $28.13, for a total value of $334,212.53.

Adaptive Biotechnologies Stock Down 1.1%

Shares of ADPT traded down $0.29 during trading hours on Tuesday, reaching $25.28. The company's stock had a trading volume of 1,954,719 shares, compared to its average volume of 2,743,708. 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 company has a 50 day moving average of $26.12 and a two-hundred day moving average of $20.28. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $71.55 million for the quarter, compared to analysts' expectations of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%. Adaptive Biotechnologies's revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, analysts predict that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADPT. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Piper Sandler boosted their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. TD Cowen upped their price target on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday. Guggenheim raised their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, October 1st. Finally, Morgan Stanley lifted their price objective on Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.06.

Institutional Trading of Adaptive Biotechnologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in shares of Adaptive Biotechnologies by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 31,866 shares of the company's stock valued at $684,000 after buying an additional 416 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Adaptive Biotechnologies by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company's stock worth $205,000 after purchasing an additional 941 shares in the last quarter. Assetmark Inc. raised its position in Adaptive Biotechnologies by 46.4% in the first quarter. Assetmark Inc. now owns 4,421 shares of the company's stock worth $61,000 after purchasing an additional 1,401 shares in the last quarter. Nykredit A S acquired a new position in Adaptive Biotechnologies in the second quarter worth about $31,000. Finally, Allworth Financial LP bought a new position in Adaptive Biotechnologies during the second quarter worth about $35,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.

The company's product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.

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