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 stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $25.50, for a total value of $302,965.50. Following the completion of the transaction, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at approximately $9,633,951. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 Thursday, October 8th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were 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 shares were 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 Stock Performance

NASDAQ:ADPT traded down $0.29 during trading hours on Tuesday, reaching $25.28. The company had a trading volume of 1,954,719 shares, compared to its average volume of 2,743,708. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. The stock has a 50-day moving average of $26.12 and a two-hundred day moving average of $20.28. Adaptive Biotechnologies Corporation has a one year low of $12.00 and a one year high of $30.74.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data 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 company had revenue of $71.55 million for 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%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. As a group, research analysts predict that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP acquired a new position in Adaptive Biotechnologies in the second quarter worth $12,361,000. Renaissance Technologies LLC acquired a new stake in shares of Adaptive Biotechnologies in the first quarter valued at $3,328,000. Handelsbanken Fonder AB acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at $1,416,000. Wellington Management Group LLP increased its stake in shares of Adaptive Biotechnologies by 53.2% in the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company’s stock valued at $126,799,000 after buying an additional 2,053,944 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Adaptive Biotechnologies in the second quarter valued at about $9,207,000. Institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADPT. Guggenheim increased their target price on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Morgan Stanley lifted their price target on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday. National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a research report on Tuesday, September 22nd. TD Cowen upped their price objective on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.06.

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.