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

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the company’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $25.66, for a total value of $304,866.46. Following the transaction, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available 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 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 transaction of $334,212.53.

Adaptive Biotechnologies Stock Performance

Shares of ADPT opened at $26.49 on Friday. 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 Corporation has a 12 month low of $12.00 and a 12 month high of $30.74. The firm has a fifty day simple moving average of $26.06 and a 200 day simple moving average of $20.08. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of -64.61 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) 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 business 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 company earned ($0.17) earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Research analysts forecast that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in Adaptive Biotechnologies during the 2nd quarter worth approximately $855,000. Integrated Wealth Concepts LLC acquired a new position in Adaptive Biotechnologies in the 2nd quarter valued at $46,000. Arizona State Retirement System boosted 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 acquiring an additional 416 shares during the period. Nykredit A S bought a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Adaptive Biotechnologies in the second quarter valued at about $754,000. Institutional investors own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ADPT shares. Morgan Stanley upped their price target on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a “buy” rating and a $35.00 target price for the company. TD Cowen upped their price objective on Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Friday, July 17th. Finally, National Bank Financial set a $34.00 target price on Adaptive Biotechnologies in a report on Tuesday, September 22nd. Six 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. According to MarketBeat.com, Adaptive Biotechnologies has an average rating of “Moderate Buy” and a consensus price target of $28.94.

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.