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

Key Points

• Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for about $302,609 at an average price of $25.47; the sale was made under a pre-arranged Rule 10b5-1 plan.
• After the transaction, Rubinstein owned 377,802 shares, and the article reports multiple additional sales of 11,881 shares by her in recent weeks.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $30.06; shares traded at $25.80 in the article’s cited session.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $25.47, for a total value of $302,609.07. Following the completion of the transaction, the chief operating officer owned 377,802 shares in the company, valued at approximately $9,622,616.94. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Friday, October 30th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $26.73, for a total value of $317,579.13.
• On Wednesday, October 28th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were 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 shares were 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 shares were 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 stock was 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 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 shares were 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 shares were 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.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT traded up $0.74 during trading on Tuesday, hitting $25.80. The company's stock had a trading volume of 1,494,257 shares, compared to its average volume of 2,050,401. 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 firm has a market cap of $4.12 billion, a price-to-earnings ratio of -62.93 and a beta of 2.18. The company has a 50-day moving average of $26.37 and a 200-day moving average of $19.71. Adaptive Biotechnologies Corporation has a 12 month low of $12.00 and a 12 month high of $30.74.

Analysts Set New Price Targets

ADPT has been the topic of several recent research reports. The Goldman Sachs Group assumed coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 price target on the stock. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, September 22nd. Morgan Stanley upped 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, October 12th. National Bank Financial set a $34.00 target price on Adaptive Biotechnologies in a report on Tuesday, September 22nd. Finally, Piper Sandler lifted their target price on Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.06.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Adaptive Biotechnologies during the 2nd quarter worth approximately $324,735,000. Wellington Management Group LLP lifted its holdings in Adaptive Biotechnologies by 53.2% during 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 in the last quarter. Bank of America Corp DE bought a new position in shares of Adaptive Biotechnologies in the second quarter worth approximately $37,109,000. Freestone Grove Partners LP purchased a new stake in shares of Adaptive Biotechnologies in the second quarter worth $18,912,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Adaptive Biotechnologies in the second quarter worth $16,858,000. 99.17% of the stock is currently owned by institutional investors.

About Adaptive Biotechnologies

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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