Key Points
- COO Julie Rubinstein sold 11,881 ADPT shares at an average price of $24.05, generating $285,738.05. The sale was made under a pre-arranged Rule 10b5-1 plan, leaving her with 377,802 shares.
- Rubinstein has made several similar sales in October, selling 11,881 shares in each transaction at prices ranging from $25.50 to $29.19.
- ADPT recently traded near $25.33, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $30.06. The company reported revenue growth of 21.5% year over year but missed quarterly EPS expectations.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the company's stock in a transaction on Monday, October 19th. The stock was sold at an average price of $24.05, for a total transaction of $285,738.05. Following the completion of the transaction, the chief operating officer owned 377,802 shares of the company's stock, valued at $9,086,138.10. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 Wednesday, October 21st, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.41, for a total transaction of $301,896.21.
- On Thursday, October 15th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $25.61, for a total transaction of $304,272.41.
- On Tuesday, October 13th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $25.50, for a total transaction 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 transaction 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 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 Price Performance
Shares of ADPT opened at $25.33 on Thursday. 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 Corporation has a one year low of $12.00 and a one year high of $30.74. The company has a 50-day simple moving average of $26.11 and a two-hundred day simple moving average of $20.75.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share 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 firm had revenue of $71.55 million for the quarter, compared to analysts' expectations of $65.44 million. During the same quarter last year, the company posted ($0.17) EPS. The firm's revenue was up 21.5% on a year-over-year basis. Research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Adaptive Biotechnologies
Several hedge funds have recently bought and sold shares of ADPT. BlackRock Inc. purchased a new stake in Adaptive Biotechnologies in the second quarter worth about $324,735,000. Wellington Management Group LLP increased its stake in shares of Adaptive Biotechnologies by 53.2% during the second 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 bought a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $37,109,000. Principal Financial Group Inc. lifted its holdings in shares of Adaptive Biotechnologies by 9.8% during the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company's stock valued at $23,664,000 after purchasing an additional 152,378 shares during the last quarter. Finally, Capricorn Fund Managers Ltd purchased a new position in shares of Adaptive Biotechnologies during the first quarter valued at approximately $17,930,000. Institutional investors own 99.17% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on ADPT. BTIG Research lifted their price target on Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, September 22nd. National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a research note on Tuesday, September 22nd. The Goldman Sachs Group assumed coverage on Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 price objective for the company. Morgan Stanley raised their price objective on Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an "equal weight" rating in a research report on Monday, October 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.06.
View Our Latest Stock Analysis on Adaptive Biotechnologies
Adaptive Biotechnologies Company Profile
(
Get Free Report)
Adaptive Biotechnologies Corporation (NASDAQ: ADPT) is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and research tools. Based in Seattle, Washington, the company analyzes immune-cell receptors to help identify and measure disease, support drug development and improve understanding of immune responses.
Adaptive's products include clonoSEQ, a clinical assay used to detect and monitor measurable residual disease in certain blood cancers, including multiple myeloma, acute lymphoblastic leukemia and chronic lymphocytic leukemia.
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