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

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $29.40, for a total value of $349,301.40. Following the completion of the transaction, the chief operating officer directly owned 377,802 shares in the company, valued at $11,107,378.80. 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 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 Friday, November 13th, Julie Rubinstein sold 11,466 shares of Adaptive Biotechnologies stock. The stock was 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 shares were sold at an average price of $25.47, for a total transaction of $302,609.07.
• On Wednesday, October 28th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.45, for a total transaction 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 shares were 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 shares were 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

ADPT stock traded down $0.44 during midday trading on Friday, hitting $29.04. 2,063,725 shares of the company’s stock were exchanged, compared to its average volume of 2,197,728. The company has a debt-to-equity ratio of 1.82, a current ratio of 3.97 and a quick ratio of 3.87. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $32.21. The firm has a 50 day moving average price of $26.91 and a 200-day moving average price of $20.13.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.12. The company had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $71.57 million. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The business’s revenue was down 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. Analysts expect that Adaptive Biotechnologies Corporation will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Adaptive Biotechnologies during the second quarter valued at $324,735,000. Wellington Management Group LLP lifted its position in shares of Adaptive Biotechnologies by 53.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock worth $126,799,000 after buying an additional 2,053,944 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at about $37,109,000. Freestone Grove Partners LP acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at about $18,912,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at about $16,858,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADPT. Morgan Stanley lifted their price target 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. Piper Sandler raised their price objective on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. National Bank Financial set a $34.00 target price on shares of Adaptive Biotechnologies in a research report on Tuesday, September 22nd. Finally, Guggenheim boosted their target price on shares of Adaptive Biotechnologies from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.31.

About Adaptive Biotechnologies

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.