Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells 11,881 Shares of Company Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $25.41, for a total value of $301,896.21. Following the transaction, the chief operating officer directly owned 377,802 shares in the company, valued at approximately $9,599,948.82. This represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 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 Thursday, October 15th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.61, for a total value of $304,272.41.
• On Tuesday, October 13th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.50, for a total value of $302,965.50.
• On Thursday, October 8th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.66, for a total transaction of $304,866.46.
• 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 transaction 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 Trading Up 3.7%

Shares of ADPT traded up $0.91 during midday trading on Wednesday, hitting $25.33. The stock had a trading volume of 1,718,972 shares, compared to its average volume of 2,292,673. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $30.74. The firm has a market cap of $4.04 billion, a PE ratio of -61.78 and a beta of 2.09. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68. The stock’s 50 day moving average is $26.11 and its 200 day moving average is $20.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The firm had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%. Adaptive Biotechnologies’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. As a group, analysts forecast that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on ADPT shares. The Goldman Sachs Group initiated coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 29th. They issued a “buy” rating and a $35.00 price objective on the stock. Guggenheim boosted their target price on Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. Morgan Stanley boosted their target price on Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. TD Cowen upped their target price on Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Finally, Piper Sandler increased their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.06.

Institutional Inflows and Outflows

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

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation (NASDAQ: ADPT) is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and research tools. Based in Seattle, Washington, the company analyzes immune-cell receptors to help identify and measure disease, support drug development and improve understanding of immune responses.

Adaptive’s products include clonoSEQ, a clinical assay used to detect and monitor measurable residual disease in certain blood cancers, including multiple myeloma, acute lymphoblastic leukemia and chronic lymphocytic leukemia.