Key Points
- Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for $338,014 at an average price of $28.45, reducing her position by 3.05% to 377,802 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan and followed several similar October sales.
- ADPT shares opened at $28.17, down 0.7%, with a market capitalization of approximately $4.5 billion. The company reported quarterly revenue of $71.55 million, up 21.5% year over year, but missed EPS expectations and remains unprofitable.
- Analyst sentiment is “Moderate Buy”, with six Buy, one Hold and one Sell rating and an average price target of $30.06. Recent targets range from $27 to $35, while institutional investors own 99.17% of the stock.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $28.45, for a total value of $338,014.45. Following the sale, the chief operating officer directly owned 377,802 shares of the company's stock, valued at approximately $10,748,466.90. This trade represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $26.04, for a total value of $309,381.24.
- On Friday, October 23rd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $24.98, for a total value of $296,787.38.
- 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 value of $285,738.05.
- On Wednesday, October 21st, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $25.41, for a total value 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 value 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 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 Down 0.7%
Shares of NASDAQ ADPT opened at $28.17 on Friday. 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 current ratio of 4.79 and a quick ratio of 4.68. The firm's 50 day simple moving average is $26.35 and its two-hundred day simple moving average is $19.60. The stock has a market capitalization of $4.50 billion, a P/E ratio of -68.71 and a beta of 2.09.
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 the consensus estimate of ($0.13) by ($0.12). The business had revenue of $71.55 million for the quarter, compared to analysts' expectations of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%. The company's revenue was up 21.5% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share. As a group, analysts expect that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current fiscal year.
Hedge Funds Weigh In On Adaptive Biotechnologies
Several institutional investors and hedge funds have recently bought and sold shares of ADPT. Mirae Asset Global Investments Co. Ltd. purchased a new position in Adaptive Biotechnologies in the 3rd quarter worth approximately $236,000. China Universal Asset Management Co. Ltd. lifted its position in Adaptive Biotechnologies by 14.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 29,120 shares of the company's stock valued at $838,000 after purchasing an additional 3,649 shares during the last quarter. Gibbs Wealth Management boosted its stake in shares of Adaptive Biotechnologies by 4.6% during the third quarter. Gibbs Wealth Management now owns 26,900 shares of the company's stock valued at $777,000 after purchasing an additional 1,191 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Adaptive Biotechnologies by 870.8% during the third quarter. Sterling Capital Management LLC now owns 5,252 shares of the company's stock valued at $152,000 after purchasing an additional 4,711 shares during the period. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Adaptive Biotechnologies during the third quarter valued at approximately $243,000. 99.17% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ADPT has been the subject of a number of research reports. TD Cowen upped their price objective on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, October 13th. Morgan Stanley lifted their target price on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Monday, October 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. The Goldman Sachs Group started coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a "buy" rating and a $35.00 price target for the company. Finally, BTIG Research upped their price target on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, September 22nd. Six 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.06.
Check Out Our Latest Report on Adaptive Biotechnologies
About Adaptive Biotechnologies
(
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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