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

Key Points

• COO Julie Rubinstein sold 11,881 Adaptive Biotechnologies shares for about $304,272 at an average price of $25.61, reducing her ownership by 3.05%. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan and followed four similar sales earlier in October.
• ADPT shares fell 6.1% to $24.02, 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 a $30.06 price target; six analysts rate the stock Buy, compared with 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 that occurred on Thursday, October 15th. The stock was sold at an average price of $25.61, for a total value of $304,272.41. Following the completion of the transaction, the chief operating officer owned 377,802 shares of the company's stock, valued at $9,675,509.22. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 transaction 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 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 value of $334,212.53.

Adaptive Biotechnologies Trading Down 6.1%

NASDAQ:ADPT traded down $1.56 during trading hours on Friday, reaching $24.02. The stock had a trading volume of 1,947,218 shares, compared to its average volume of 2,400,848. Adaptive Biotechnologies Corporation has a 52 week low of $12.00 and a 52 week high of $30.74. The company has a 50 day moving average price of $26.16 and a two-hundred day moving average price of $20.48. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79.

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

Analyst Ratings Changes

Several equities analysts have commented on ADPT shares. The Goldman Sachs Group initiated coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 29th. They set a "buy" rating and a $35.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Thursday. Guggenheim upped their target price on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, October 1st. TD Cowen upped their target price on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Morgan Stanley increased 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. Six 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 a consensus price target of $30.06.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently modified their holdings of ADPT. BlackRock Inc. bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at approximately $324,735,000. Wellington Management Group LLP raised its holdings in Adaptive Biotechnologies by 53.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock valued at $126,799,000 after buying an additional 2,053,944 shares during the period. Bank of America Corp DE bought a new stake in Adaptive Biotechnologies in the second quarter worth $37,109,000. Principal Financial Group Inc. lifted its position in Adaptive Biotechnologies by 9.8% in the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company's stock worth $23,664,000 after buying an additional 152,378 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Adaptive Biotechnologies during the second quarter worth $18,912,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

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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