Key Points
- Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for $304,272 at an average price of $25.61, reducing her holdings by 3.05%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, following several similar sales in October.
- ADPT shares fell to $24.02 during Friday trading, but remain above their 200-day moving average; the stock has traded between $12.00 and $30.74 over the past year.
- The company’s latest quarterly results included revenue growth of 21.5% year over year to $71.55 million, though its adjusted loss of $0.25 per share missed expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $30.06.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $25.61, for a total value of $304,272.41. Following the sale, the chief operating officer owned 377,802 shares of the company's stock, valued at approximately $9,675,509.22. The trade was a 3.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Tuesday, October 13th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.50, for a total value of $302,965.50.
- On Thursday, October 8th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 stock was 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 stock was sold at an average price of $28.13, for a total value of $334,212.53.
Adaptive Biotechnologies Stock Performance
Shares of ADPT traded down $1.56 during mid-day trading on Friday, hitting $24.02. The company's stock had a trading volume of 1,947,218 shares, compared to its average volume of 2,400,848. Adaptive Biotechnologies Corporation has a one year low of $12.00 and a one year high of $30.74. 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 market capitalization of $3.83 billion, a PE ratio of -58.59 and a beta of 2.09. The stock's 50-day moving average is $26.16 and its two-hundred day moving average is $20.48.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced 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). 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 analyst estimates of $65.44 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The company's revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an "equal weight" rating in a report on Monday. Guggenheim upped 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, October 1st. Piper Sandler increased their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Thursday. Finally, National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a research note on Tuesday, September 22nd. Six research 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 has an average rating of "Moderate Buy" and an average target price of $30.06.
Read Our Latest Report on ADPT
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of ADPT. Caitong International Asset Management Co. Ltd bought a new position in Adaptive Biotechnologies in the fourth quarter worth $28,000. Nykredit A S acquired a new stake in Adaptive Biotechnologies during the second quarter worth $31,000. Allworth Financial LP acquired a new stake in Adaptive Biotechnologies during the second quarter worth $35,000. KBC Group NV bought a new stake in Adaptive Biotechnologies in the 1st quarter valued at $45,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Adaptive Biotechnologies in the 2nd quarter valued at $46,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.
About Adaptive Biotechnologies
(
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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