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

Key Points

• Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares at an average price of $24.98, generating approximately $296,787. The sale was conducted under a pre-arranged Rule 10b5-1 plan and reduced her direct ownership by 3.05% to 377,802 shares.
• Rubinstein has made multiple similar sales since early October, selling 11,881 shares in each transaction at prices ranging from $24.05 to $29.19.
• ADPT recently traded at $26.27, while analysts maintained a “Moderate Buy” consensus with an average price target of $30.06. The company’s latest quarterly revenue exceeded expectations, but its loss per share was wider than forecast.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $24.98, for a total transaction of $296,787.38. Following the transaction, the chief operating officer directly owned 377,802 shares of the company's stock, valued at $9,437,493.96. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 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 transaction of $309,381.24.
• 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 transaction 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 transaction 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 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 transaction 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 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 Price Performance

NASDAQ:ADPT traded up $0.76 during trading hours on Monday, reaching $26.27. 1,164,225 shares of the company traded hands, compared to its average volume of 2,124,122. 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's 50-day moving average is $26.17 and its 200-day moving average is $19.42. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The company had revenue of $71.55 million during the quarter, compared to analysts' expectations of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The firm's revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

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

Analysts Set New Price Targets

ADPT has been the topic of a number of analyst reports. Piper Sandler raised 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. BTIG Research upped their target price on Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, September 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. The Goldman Sachs Group started coverage on Adaptive Biotechnologies in a research report on Tuesday, September 29th. They set a "buy" rating and a $35.00 target price on the stock. Finally, Guggenheim lifted their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Adaptive Biotechnologies has an average rating of "Moderate Buy" and an average price target 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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