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

Key Points

• COO Julie Rubinstein sold 11,881 Adaptive Biotechnologies shares at an average price of $28.13, generating $334,213; the sale was made under a pre-arranged Rule 10b5-1 plan and reduced her direct holdings by 3.05%.
• ADPT shares rose to $29.84, near their 52-week high of $29.96, while the company’s latest quarter showed revenue growth of 21.5% year over year but an EPS loss of $0.25 that missed analyst expectations.
• Analyst sentiment remains mostly positive, with six Buy ratings, one Hold, and one Sell; the consensus rating is “Moderate Buy” with a $28.94 target price, while institutional investors own 99.17% of the stock.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $28.13, for a total transaction of $334,212.53. Following the sale, the chief operating officer directly owned 377,802 shares of the company's stock, valued at approximately $10,627,570.26. This trade represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 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.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT traded up $1.49 on Monday, hitting $29.84. The company had a trading volume of 1,424,680 shares, compared to its average volume of 2,400,319. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -72.78 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 52 week low of $12.00 and a 52 week high of $29.96. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. The firm has a 50 day moving average of $25.78 and a two-hundred day moving average of $19.76.

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 analysts' consensus estimates of ($0.13) by ($0.12). The firm had revenue of $71.55 million during the quarter, compared to analyst estimates 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 for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) EPS. On average, research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley upped their target price on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Guggenheim increased their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday. BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, September 22nd. 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.94.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in Adaptive Biotechnologies in the fourth quarter worth $28,000. Nykredit A S bought a new stake in shares of Adaptive Biotechnologies in the second quarter worth about $31,000. Allworth Financial LP bought a new position in Adaptive Biotechnologies in the 2nd quarter worth $35,000. KBC Group NV purchased a new stake in Adaptive Biotechnologies in the first quarter worth about $45,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Adaptive Biotechnologies in the 2nd quarter worth about $46,000. 99.17% of the stock is currently owned by institutional investors.

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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