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

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 8th. The shares were sold at an average price of $25.66, for a total value of $304,866.46. Following the completion of the sale, the chief operating officer owned 377,802 shares in the company, valued at approximately $9,694,399.32. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value 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 value of $334,212.53.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock traded down $0.19 during mid-day trading on Thursday, hitting $26.09. 2,640,218 shares of the company were exchanged, compared to its average volume of 2,314,965. The company has a market capitalization of $4.16 billion, a PE ratio of -63.63 and a beta of 2.09. The business has a fifty day moving average of $25.94 and a 200 day moving average of $19.94. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $30.74. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $65.44 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth approximately $324,735,000. Wellington Management Group LLP increased its holdings in shares of Adaptive Biotechnologies by 53.2% in 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 Adaptive Biotechnologies in the 2nd quarter worth approximately $37,109,000. Principal Financial Group Inc. raised its position in Adaptive Biotechnologies by 9.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company’s stock worth $23,664,000 after purchasing an additional 152,378 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Adaptive Biotechnologies during the 2nd quarter worth $18,912,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ADPT. Piper Sandler upped their price objective on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Morgan Stanley boosted their target price on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. BTIG Research increased their price target on Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. The Goldman Sachs Group started coverage on Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 price target for the company. Finally, National Bank Financial set a $34.00 price objective on Adaptive Biotechnologies in a research report on Tuesday, September 22nd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.94.

View Our Latest Research Report on Adaptive Biotechnologies

Adaptive Biotechnologies Company Profile

(Get Free Report)

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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