Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells $349,301.40 in Stock

Key Points

• Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for $349,301 at an average price of $29.40, under a pre-arranged Rule 10b5-1 plan. She retained 377,802 shares after the sale.
• The article reports a series of additional stock sales by Rubinstein in late October and November, each involving roughly 11,500–11,900 shares.
• Adaptive reported quarterly EPS of $0.02, beating the $0.10-per-share loss analysts expected, and revenue of $83.9 million; revenue was down 10.7% year over year. Analysts’ average price target was $30.31, with a “Moderate Buy” consensus rating.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the company's stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $29.40, for a total transaction of $349,301.40. Following the transaction, the chief operating officer owned 377,802 shares in the company, valued at $11,107,378.80. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Friday, November 13th, Julie Rubinstein sold 11,466 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.93, for a total transaction of $331,711.38.
• On Monday, November 9th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $30.12, for a total transaction of $357,855.72.
• On Thursday, November 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $26.53, for a total value of $315,202.93.
• 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 Monday, November 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.47, for a total value of $302,609.07.
• On Wednesday, October 28th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 stock was 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 stock was 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.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock traded down $0.44 during trading hours on Friday, hitting $29.04. The stock had a trading volume of 2,063,725 shares, compared to its average volume of 2,197,728. The company has a quick ratio of 3.87, a current ratio of 3.97 and a debt-to-equity ratio of 1.82. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $32.21. The stock's fifty day moving average is $26.91 and its two-hundred day moving average is $20.13.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $71.57 million. During the same quarter in the previous year, the company posted $0.06 EPS. The business's revenue was down 10.7% on a year-over-year basis. As a group, analysts anticipate that Adaptive Biotechnologies Corporation will post -0.24 EPS for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Hedge funds have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Adaptive Biotechnologies by 1.3% in the second quarter. Arizona State Retirement System now owns 31,866 shares of the company's stock valued at $684,000 after buying an additional 416 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Adaptive Biotechnologies by 6.8% during the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company's stock worth $205,000 after acquiring an additional 941 shares during the last quarter. Gibbs Wealth Management boosted its position in Adaptive Biotechnologies by 4.6% during the third quarter. Gibbs Wealth Management now owns 26,900 shares of the company's stock worth $777,000 after acquiring an additional 1,191 shares during the last quarter. Assetmark Inc. grew its stake in Adaptive Biotechnologies by 46.4% in the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company's stock worth $61,000 after acquiring an additional 1,401 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Adaptive Biotechnologies in the second quarter valued at $31,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ADPT shares. The Goldman Sachs Group assumed coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 price target on the stock. Morgan Stanley raised their price objective on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Monday, October 12th. TD Cowen raised their price objective on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. National Bank Financial set a $34.00 price objective on Adaptive Biotechnologies in a research report on Tuesday, September 22nd. Finally, 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. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.31.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.

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