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

Key Points

• Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for about $357,856 at an average price of $30.12, under a pre-arranged Rule 10b5-1 plan. She retained 377,802 shares after the sale.
• The sale followed a series of similar 11,881-share sales in October and November, with reported prices ranging from $24.05 to $28.45.
• The company’s latest quarter beat analyst expectations, reporting EPS of $0.02 versus a forecast loss of $0.10 and revenue of $83.9 million versus $71.57 million expected; revenue was down 10.7% year over year.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $30.12, for a total transaction of $357,855.72. Following the transaction, the chief operating officer owned 377,802 shares of the company's stock, valued at $11,379,396.24. 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 accessible 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, November 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 value 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.
• On Thursday, October 15th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT traded down $0.90 on Tuesday, reaching $29.36. The company had a trading volume of 1,849,454 shares, compared to its average volume of 2,155,608. The company's fifty day moving average is $26.61 and its 200 day moving average is $19.97. Adaptive Biotechnologies Corporation has a 52-week low of $12.00 and a 52-week high of $30.81. 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 posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.12. Adaptive Biotechnologies had a negative net margin of 23.67% and a negative return on equity of 23.95%. The firm had revenue of $83.90 million for the quarter, compared to the consensus estimate of $71.57 million. During the same period in the previous year, the firm earned $0.06 EPS. The business's revenue for the quarter was down 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Adaptive Biotechnologies Corporation will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen upped 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. Morgan Stanley lifted 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 report on Monday, October 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. The Goldman Sachs Group assumed coverage on Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, Guggenheim upped their target price on Adaptive Biotechnologies from $32.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.