Key Points
- Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for approximately $296,787 at an average price of $24.98, reducing her direct ownership by 3.05%. The sale was executed under a pre-arranged Rule 10b5-1 trading plan.
- Rubinstein has made a series of similar sales since October 2, totaling roughly $2.49 million across the disclosed transactions.
- ADPT shares opened at $26.27, while analysts maintain a “Moderate Buy” consensus with an average price target of $30.06; the company’s latest quarter showed 21.5% year-over-year revenue growth but a larger-than-expected EPS loss.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the business's stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $24.98, for a total transaction of $296,787.38. Following the transaction, the chief operating officer directly owned 377,802 shares in the company, valued at approximately $9,437,493.96. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 26th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $26.04, for a total transaction of $309,381.24.
- On Monday, October 19th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $24.05, for a total transaction of $285,738.05.
- 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 stock was 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 stock was 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 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 shares were sold at an average price of $28.13, for a total value of $334,212.53.
Adaptive Biotechnologies Stock Up 3.0%
Shares of NASDAQ ADPT opened at $26.27 on Tuesday. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $30.74. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -64.07 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 stock's 50-day simple moving average is $26.17 and its 200-day simple moving average is $19.42.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued 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 net margin of 20.73% and a negative return on equity of 36.81%. The business had revenue of $71.55 million during the quarter, compared to analysts' expectations of $65.44 million. During the same period in the prior year, the company posted ($0.17) EPS. The company's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.40 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on ADPT shares. The Goldman Sachs Group initiated coverage on Adaptive Biotechnologies in a research report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 target price on the stock. Morgan Stanley increased their target price on Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an "equal weight" rating in a research note on Monday, October 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. Piper Sandler raised their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, BTIG Research lifted their price target on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, September 22nd. Six equities research 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, Adaptive Biotechnologies has a consensus rating of "Moderate Buy" and a consensus price target of $30.06.
View Our Latest Stock Report on ADPT
Hedge Funds Weigh In On Adaptive Biotechnologies
Several large investors have recently modified their holdings of the stock. Wasatch Advisors LP acquired a new position in Adaptive Biotechnologies in the second quarter worth about $12,361,000. Renaissance Technologies LLC acquired a new stake in Adaptive Biotechnologies during the first quarter valued at approximately $3,328,000. Handelsbanken Fonder AB bought a new position in Adaptive Biotechnologies during the 2nd quarter worth approximately $1,416,000. Wellington Management Group LLP lifted its stake in Adaptive Biotechnologies by 53.2% during the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock worth $126,799,000 after purchasing an additional 2,053,944 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Adaptive Biotechnologies during the second quarter worth $9,207,000. Institutional investors own 99.17% of the company's stock.
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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