Key Points
- COO Julie Rubinstein sold 11,881 Adaptive Biotechnologies shares for approximately $302,966 at an average price of $25.50 under a pre-arranged Rule 10b5-1 plan. She retains 377,802 shares, and has made three similar sales in October.
- Adaptive Biotechnologies’ shares opened at $25.28, down 1.1%, with a market capitalization of roughly $4.03 billion. Its latest quarterly loss of $0.25 per share missed estimates, although revenue rose 21.5% year over year to $71.55 million.
- Institutional investors own 99.17% of the company, while analysts maintain a “Moderate Buy” consensus with an average price target of $30.06; targets range from $27 to $35.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the stock in a transaction 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 sale, the chief operating officer directly owned 377,802 shares of the company's stock, valued at approximately $9,633,951. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, 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 transaction 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 transaction of $346,806.39.
- On Friday, October 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $28.13, for a total transaction of $334,212.53.
Adaptive Biotechnologies Stock Down 1.1%
Shares of Adaptive Biotechnologies stock opened at $25.28 on Wednesday. Adaptive Biotechnologies Corporation has a one year low of $12.00 and a one year high of $30.74. The company has a market cap of $4.03 billion, a P/E ratio of -61.66 and a beta of 2.09. 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 firm has a fifty day moving average of $26.12 and a two-hundred day moving average of $20.28.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The firm had revenue of $71.55 million during the quarter, compared to analysts' expectations of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The firm's revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) EPS. On average, analysts forecast that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current year.
Hedge Funds Weigh In On Adaptive Biotechnologies
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth $324,735,000. Wellington Management Group LLP grew its stake in 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 acquiring an additional 2,053,944 shares during the last quarter. Bank of America Corp DE acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at about $37,109,000. Capricorn Fund Managers Ltd acquired a new stake in Adaptive Biotechnologies in the 1st quarter valued at about $17,930,000. Finally, Freestone Grove Partners LP purchased a new position in Adaptive Biotechnologies during the 2nd quarter valued at about $18,912,000. Hedge funds and other institutional investors own 99.17% of the company's stock.
Wall Street Analysts Forecast Growth
ADPT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. Morgan Stanley boosted their target price on Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Monday. Piper Sandler increased their target price on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. The Goldman Sachs Group initiated coverage on Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 price target for the company. Finally, National Bank Financial set a $34.00 price target on Adaptive Biotechnologies 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of "Moderate Buy" and an average price target of $30.06.
Check Out Our Latest Report on ADPT
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
