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

Key Points

• COO Julie Rubinstein sold 11,881 ADPT shares at an average price of $25.66, receiving $304,866.46. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced her holdings by 3.05% to 377,802 shares; she also made similarly sized sales on October 2 and October 5.
• Adaptive Biotechnologies shares traded near $26.09, with a market capitalization of approximately $4.16 billion and a 52-week range of $12.00 to $30.74. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $28.94.
• The company’s latest quarter showed 21.5% year-over-year revenue growth to $71.55 million, but its $0.25 per-share loss missed estimates and the business remains unprofitable, with a negative net margin of 20.73%.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $25.66, for a total transaction of $304,866.46. Following the completion of the transaction, the chief operating officer owned 377,802 shares in the company, valued at $9,694,399.32. This trade represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $346,806.39.
• On Friday, October 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.13, for a total transaction of $334,212.53.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT traded down $0.19 during midday trading on Thursday, hitting $26.09. The company's stock had a trading volume of 2,640,218 shares, compared to its average volume of 2,314,965. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The stock's 50 day simple moving average is $25.94 and its 200 day simple moving average is $19.94. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -63.63 and a beta of 2.09. Adaptive Biotechnologies Corporation has a fifty-two week low of $12.00 and a fifty-two week high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The business had revenue of $71.55 million for the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. Adaptive Biotechnologies's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADPT. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. The Goldman Sachs Group began coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 price target for the company. Morgan Stanley raised their price target on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. National Bank Financial set a $34.00 price objective on shares of Adaptive Biotechnologies in a report on Tuesday, September 22nd. Finally, Guggenheim upped their price objective 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. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $28.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ADPT. Tidal Investments LLC bought a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $855,000. Integrated Wealth Concepts LLC bought a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth about $46,000. Arizona State Retirement System boosted its position in shares of Adaptive Biotechnologies by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 31,866 shares of the company's stock valued at $684,000 after acquiring an additional 416 shares in the last quarter. Nykredit A S acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Adaptive Biotechnologies in the second quarter valued at about $754,000. 99.17% of the stock is 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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