Key Points
- COO Julie Rubinstein sold 11,881 Adaptive Biotechnologies shares at an average price of $28.13, totaling approximately $334,213, under a pre-arranged Rule 10b5-1 trading plan. She retained 377,802 shares, and also sold another 11,881 shares on October 5 at $29.19.
- ADPT shares opened at $29.84 after rising 5.3%, near their 52-week high of $29.96. The stock has a $4.76 billion market capitalization, while its 50-day and 200-day moving averages stood at $25.78 and $19.76, respectively.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $28.94; several firms recently raised targets to between $32 and $34. The company’s latest quarterly revenue rose 21.5% year over year to $71.55 million, although its adjusted loss of $0.25 per share missed estimates.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies 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 completion of the transaction, the chief operating officer directly owned 377,802 shares in the company, valued at $10,627,570.26. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 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.
Adaptive Biotechnologies Trading Up 5.3%
Shares of ADPT stock opened at $29.84 on Tuesday. The stock's fifty day moving average price is $25.78 and its two-hundred day moving average price is $19.76. The company has a market cap of $4.76 billion, a PE ratio of -72.78 and a beta of 2.09. Adaptive Biotechnologies Corporation has a fifty-two week low of $12.00 and a fifty-two week high of $29.96. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly 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 business had revenue of $71.55 million for the quarter, compared to analyst estimates of $65.44 million. During the same period last year, the firm posted ($0.17) EPS. Adaptive Biotechnologies's quarterly revenue was up 21.5% on a year-over-year basis. Equities analysts predict that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in Adaptive Biotechnologies by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 31,866 shares of the company's stock worth $684,000 after acquiring an additional 416 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Adaptive Biotechnologies by 6.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company's stock valued at $205,000 after buying an additional 941 shares during the last quarter. Assetmark Inc. increased its stake in shares of Adaptive Biotechnologies by 46.4% in the first quarter. Assetmark Inc. now owns 4,421 shares of the company's stock valued at $61,000 after buying an additional 1,401 shares during the period. Nykredit A S acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $31,000. Finally, Allworth Financial LP bought a new position in shares of Adaptive Biotechnologies during the second quarter worth about $35,000. Institutional investors own 99.17% of the company's stock.
Analysts Set New Price Targets
ADPT has been the subject of several research analyst reports. Guggenheim boosted their target price on Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday. National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a research note on Tuesday, September 22nd. TD Cowen lifted their price target on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, July 30th. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, September 22nd. Finally, Morgan Stanley increased their price objective on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.94.
Get Our Latest Analysis on Adaptive Biotechnologies
Adaptive Biotechnologies Company Profile
(
Get Free Report)
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.
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