Adaptive Biotechnologies (NASDAQ:ADPT) COO Sells $334,212.53 in Stock

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $28.13, for a total transaction of $334,212.53. Following the sale, the chief operating officer owned 377,802 shares in the company, valued at approximately $10,627,570.26. The trade was a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $29.19, for a total value of $346,806.39.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT traded up $1.49 during trading on Monday, reaching $29.84. 1,424,680 shares of the company traded hands, compared to its average volume of 2,400,319. Adaptive Biotechnologies Corporation has a 52-week low of $12.00 and a 52-week high of $29.96. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The firm has a 50 day simple moving average of $25.78 and a 200-day simple moving average of $19.76. The stock has a market capitalization of $4.76 billion, a PE ratio of -72.78 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results 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 company had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million. During the same period last year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.4 earnings per share for the current year.

Institutional Trading of Adaptive Biotechnologies

Institutional investors have recently made changes to their positions in the business. Nykredit A S purchased a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at approximately $31,000. Allworth Financial LP acquired a new position in Adaptive Biotechnologies in the 2nd quarter worth about $35,000. Caitong International Asset Management Co. Ltd purchased a new position in Adaptive Biotechnologies in the 4th quarter valued at about $28,000. Integrated Wealth Concepts LLC purchased a new position in Adaptive Biotechnologies during the second quarter worth approximately $46,000. Finally, KBC Group NV acquired a new position in Adaptive Biotechnologies in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ADPT shares. The Goldman Sachs Group initiated coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 price target on the stock. Morgan Stanley boosted 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. Guggenheim boosted their price objective on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler raised their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.94.

Adaptive Biotechnologies Company Profile

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.