Insider Selling: Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells $296,787.38 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $24.98, for a total transaction of $296,787.38. Following the completion of the sale, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at approximately $9,437,493.96. This represents a 3.05% decrease in their position. The sale was disclosed in a filing 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 26th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $26.04, for a total transaction of $309,381.24.
• On Monday, October 19th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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.
• On Thursday, October 15th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were 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 shares were 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 value of $304,866.46.
• 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 value of $334,212.53.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock opened at $28.37 on Thursday. The business’s 50-day simple moving average is $26.30 and its 200 day simple moving average is $19.54. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -69.20 and a beta of 2.09. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month 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) last announced 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). The firm had revenue of $71.55 million during the quarter, compared to analyst estimates 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 for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share. As a group, research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current year.

Analysts Set New Price Targets

ADPT has been the topic of several recent research reports. TD Cowen raised their target price on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Piper Sandler boosted their price target 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. BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Thursday, October 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a “buy” rating and a $35.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.06.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in 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 purchasing an additional 416 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Adaptive Biotechnologies by 6.8% during the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company’s stock worth $205,000 after buying an additional 941 shares during the last quarter. Gibbs Wealth Management boosted its holdings in Adaptive Biotechnologies by 4.6% during the third quarter. Gibbs Wealth Management now owns 26,900 shares of the company’s stock worth $777,000 after buying an additional 1,191 shares during the last quarter. Assetmark Inc. grew its position in shares of Adaptive Biotechnologies by 46.4% during the 1st quarter. Assetmark Inc. now owns 4,421 shares of the company’s stock worth $61,000 after buying an additional 1,401 shares during the period. Finally, Nykredit A S acquired a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth about $31,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Company Profile

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.