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

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $29.19, for a total transaction of $346,806.39. Following the sale, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at $11,028,040.38. This represents a 3.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Friday, October 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $28.13, for a total transaction of $334,212.53.

Adaptive Biotechnologies Trading Up 5.3%

NASDAQ:ADPT traded up $1.49 during trading hours on Monday, hitting $29.84. The company had a trading volume of 1,424,680 shares, compared to its average volume of 2,400,319. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $29.96. The company has a market cap of $4.76 billion, a P/E ratio of -72.78 and a beta of 2.09. The company has a 50-day moving average of $25.78 and a 200 day moving average of $19.76. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.12). Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The firm had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. During the same quarter in the prior year, the business earned ($0.17) EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

ADPT has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a research note on Tuesday, September 22nd. BTIG Research increased 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. TD Cowen boosted their target price on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley lifted their price target on Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nykredit A S purchased a new stake in shares of Adaptive Biotechnologies in the second quarter valued at approximately $31,000. Allworth Financial LP purchased a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth $35,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $28,000. Integrated Wealth Concepts LLC acquired a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth $46,000. Finally, KBC Group NV purchased a new position in shares of Adaptive Biotechnologies in the 1st quarter valued at about $45,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

About Adaptive Biotechnologies

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.