Adaptive Biotechnologies (NASDAQ:ADPT) COO Julie Rubinstein Sells 11,466 Shares of Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,466 shares of the firm’s stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $28.93, for a total transaction of $331,711.38. Following the transaction, the chief operating officer directly owned 377,802 shares in the company, valued at approximately $10,929,811.86. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Thursday, November 12th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $29.40, for a total transaction of $349,301.40.
• 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 shares were sold at an average price of $26.53, for a total transaction 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 transaction of $317,579.13.
• On Monday, November 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 stock was 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 transaction 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 transaction 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 shares were sold at an average price of $25.41, for a total value of $301,896.21.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT traded down $0.44 during trading hours on Friday, reaching $29.04. 2,063,725 shares of the company were exchanged, compared to its average volume of 2,197,728. The business has a 50 day moving average of $26.91 and a 200 day moving average of $20.13. Adaptive Biotechnologies Corporation has a 1-year low of $12.00 and a 1-year high of $32.21. The company has a debt-to-equity ratio of 1.82, a current ratio of 3.97 and a quick ratio of 3.87. The company has a market capitalization of $4.70 billion, a P/E ratio of -64.53 and a beta of 2.18.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.12. The firm 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 company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. Research analysts forecast that Adaptive Biotechnologies Corporation will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ADPT. BlackRock Inc. bought a new stake in Adaptive Biotechnologies during the second quarter worth $324,735,000. Wellington Management Group LLP boosted its holdings 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 valued at $126,799,000 after purchasing an additional 2,053,944 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at $37,109,000. Freestone Grove Partners LP acquired a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at $18,912,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at $16,858,000. 99.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley increased their target price on Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. The Goldman Sachs Group initiated coverage on Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a “buy” rating and a $35.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. Piper Sandler increased their price objective 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. Finally, BTIG Research increased their price objective 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. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.31.

Adaptive Biotechnologies Company Profile

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.