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

Key Points

• Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for approximately $301,896 at an average price of $25.41. The sale was made under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 3.05% to 377,802 shares.
• Rubinstein has made several similar sales since October 2, selling 11,881 shares in each transaction at prices ranging from $24.05 to $29.19.
• ADPT recently traded at $25.33, while analysts maintain a “Moderate Buy” consensus with an average price target of $30.06. The company reported 21.5% year-over-year revenue growth in its latest quarter but missed earnings expectations.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $25.41, for a total value of $301,896.21. Following the completion of the sale, the chief operating officer owned 377,802 shares of the company's stock, valued at $9,599,948.82. The trade was a 3.05% decrease in their position. The sale was disclosed in a filing with the SEC, 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 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 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 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.
• 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 value 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 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 value of $334,212.53.

Adaptive Biotechnologies Price Performance

ADPT traded up $0.91 on Wednesday, hitting $25.33. 1,718,972 shares of the company's stock traded hands, compared to its average volume of 2,292,673. The company's 50 day simple moving average is $26.11 and its 200-day simple moving average is $20.68. The firm 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 one year low of $12.00 and a one year high of $30.74. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22.

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

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC purchased a new position in Adaptive Biotechnologies in the third quarter worth about $243,000. Tidal Investments LLC bought a new stake in Adaptive Biotechnologies during the second quarter worth approximately $855,000. Integrated Wealth Concepts LLC bought a new stake in Adaptive Biotechnologies during the second quarter worth approximately $46,000. Arizona State Retirement System raised its position in Adaptive Biotechnologies by 1.3% during 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. Finally, Nykredit A S purchased a new stake in Adaptive Biotechnologies during the second quarter valued at approximately $31,000. 99.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADPT shares. Guggenheim upped their target price on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. The Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 29th. They set a "buy" rating and a $35.00 target price for the company. TD Cowen lifted 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, October 13th. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an "equal weight" rating in a report on Monday, October 12th. Finally, Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.06.

Adaptive Biotechnologies Company Profile

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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